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KEMET and Yageo $1.6 billion merger is completed
Yageo Corporation has completed its acquisition of KEMET and thus making the merger a fact.
In accordance with the terms of the merger agreement, Yageo has acquired all of the outstanding shares of KEMET’s common stock for USD 27.20 per share in an all-cash transaction with an equity value of approximately USD 1.6 billion. As a result of the transaction, KEMET is now a wholly-owned subsidiary of Yageo.
Yageo is now in control of the Fort Lauderdale-headquartered company, along with its global footprint that includes 21 manufacturing facilities and approximately 12,500 employees.
Together with KEMET, Yageo will 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, all addressing a full range of end market segments. The combined company will have an enhanced global footprint through a combined 42 manufacturing plants and 14 dedicated R&D centers.
“The closing of this transaction is the culmination of an extensive process by the KEMET board in an effort to enhance value for KEMET’s stockholders. KEMET as part of the Yageo family will be well positioned to continue as a leading global provider of passive electronic components,” says William M. Lowe, Jr., Chief Executive Officer of KEMET, in a press release.
