Yageo To Buy KEMET In $1.8 Bln Deal

(RTTNews) - Yageo Corp. agreed to acquire KEMET Corp. (KEM) for US$27.20 per share in an all-cash transaction valued at US$1.8 billion, including the assumption of net debt.

The purchase price represents a premium of 26% to KEMET's volume weighted average price for the last 30 trading days.

The transaction is expected to close in the second half of 2020.

Yageo said it intends to fund the transaction with a combination of cash on hand and committed financing.

Yageo noted that KEMET will become a wholly owned subsidiary of Yageo and KEMET's common stock will no longer be listed on any public market, following close of the transaction.

Established in 1919 and headquartered in Fort Lauderdale, Florida, KEMET is a global supplier of high-end electronic components with a global footprint that includes 23 manufacturing facilities and approximately 14,000 employees located in 22 countries in the Americas, Asia and Europe.