Taiwan’s Yageo to buy rival Kemet in $1.8 billion deal
Taiwanese electronic component company Yageo Corp plans to acquire U.S. rival Kemet Corp in a $1.8 billion deal aimed at expanding its global footprint, the two companies said.
Yageo will offer $27.20 per Kemet share, representing an 18% premium to Monday’s closing share price.
“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”, Yageo Chief Executive Officer Pierre Chen said.
Yageo’s global footprint would increase with additional operations in North America, Europe and Asia, the companies said in a joint statement.