Yageo to acquire Kemet for $27.20 per share in cash, or $1.8B
Yageo and Kemet announced that they have entered into a definitive agreement under which Yageo will acquire all of the outstanding shares of Kemet's common stock for $27.20 per share in an all-cash transaction valued at $1.8B, including the assumption of net debt. The transaction has been approved by the Boards of Directors of both companies. The purchase price represents a premium of 26% to Kemet's volume weighted average price for the last 30 trading days and 37% to its VWAP for the last 90 trading days. The transaction is not subject to a financing contingency. Yageo intends to fund the transaction with a combination of cash on hand and committed financing. The transaction, which is expected to close in the second half of 2020, is subject to customary closing conditions and the receipt of required regulatory approvals. Following close of the transaction, Kemet will become a wholly owned subsidiary of Yageo and Kemet's common stock will no longer be listed on any public market.