© mikael damkier dreamstime.com Business | November 13, 2019
Yageo to acquire KEMET in a $1.8 billion deal
Yageo Corporation and KEMET Corporation have entered into a definitive agreement under which Yageo will acquire all of the outstanding shares of KEMET’s common stock for USD 27.20 per share in an all-cash transaction valued at USD 1.8 billion.
The transaction has been approved by the Boards of Directors of both companies. KEMET currently have a global footprint that includes 23 manufacturing facilities and about 14’000 employees. The company’s main products include tantalum capacitors, ceramic capacitors and so on. But thats not really all that Yageo is acquiring, KEMET also holds more than 1’600 patents and trademarks worldwide which the Taiwanese company now will have at its disposal. Together with the companies will be be well positioned as a one-stop provider of passive electronic components, including a portfolio of polymer, tantalum, ceramic, film and electrolytic capacitors, chip resistors, circuit protection as well as magnetics, sensors and actuators. The combined company will all together have 42 manufacturing plants and 14 dedicated R&D centers as a single entity. “KEMET gives us the extraordinary opportunity to combine our strengths to achieve synergies in product and technology offerings as well as geographic coverage. The integration will enhance our ability to serve customers in consumer electronics as well as in the high-end automotive, industrial, aerospace, telecom and medical sectors. I look forward to partnering with KEMET’s employees to drive future growth and deliver enhanced value for our shareholders and customers,” says Pierre Chen, Chairman and Chief Executive Officer of Yageo, in a press release. “We are pleased to reach this agreement with Yageo, which will deliver the certainty of immediate cash to our shareholders at a premium. After a thorough process, the KEMET Board of Directors determined that this transaction is in the best interests of KEMET shareholders, customers and employees, and is a testament to our team’s dedication to providing our customers with the broadest selection of passive component technologies and superior service in the industry,” adds William M. Lowe, Jr., Chief Executive Officer of KEMET.
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