Koch Industries To Buy Molex For About $7.2 Bln - Quick Facts

(RTTNews) - Koch Industries has agreed to acquire all of Molex Inc.'s (MOLX, MOLXA), outstanding shares, including the common Stock (MOLX), the Class A stock (MOLXA) and the Class B stock, for $38.50 per share cash, for a total equity value of around $7.2 billion. This represents a 42% premium to the equity value of Molex's publicly-traded stock, specifically a 31% premium to the common stock and a 56% premium to the Class A common stock, based on the closing stock prices on September 6, 2013.

The deal was approved by the boards of Molex and the Koch Industries. Certain members of the Krehbiel Family and certain executive officers of Molex, owning in the aggregate voting stock representing some 32% of the Common Stock and 94% of the Class B Common Stock, have inked voting agreements with Koch by which they have agreed to vote their stock in support of the transaction.

At the time of completion, Molex would become a standalone unit of Koch Industries and would continue to be operated by the firm's current management team. Following the transaction, Molex would retain the company name and its headquarters in Lisle, Illinois.

The transaction is not subject to a financing condition, and the parties are targeting a calendar year-end close, subject to customary closing conditions, including receipt of shareholder and regulatory approvals.