Business |
Kyocera wants to acquire outstanding AVX shares
Kyocera Corporation has made a proposal to a special committee of the board of directors of AVX Corporation to acquire all outstanding shares of common stock of AVX not owned by Kyocera for USD 19.50 per share in cash.
The proposal represents a 29.7% premium over the closing price as of November 26, 2019. Kyocera currently owns approximately 72% of AVX’s outstanding shares of common stock. If the transaction is completed, AVX would become a wholly owned subsidiary of Kyocera, a press release reads.
Kyocera says that the company does not intend to disclose any developments unless the company deems it appropriate or required.
