Wednesday, 11 September 2013

Koch Industries To Buy Electronics Firm Molex

In a recent announcement, Koch industries have confirmed they are to buy global electronic components company Molex, for $7.2 billion.

Koch Industries are one of the world's largest privately owned companies and currently own a highly diverse group of firms ranging from refining and biofuels, to fertilizers and commodity trading.

Koch Industries has agreed to pay Molex's shareholders $38.50 per share, for a total equity value of approximately $7.2 billion. The deal is expected to close by the end of this year and will see Molex become a standalone subsidiary of Koch. Molex will continue to be operated by the company's current management team and will also keep it's existing name and head office, located in Lisle, Illinois.

Martin Slark, Vice Chairman and Chief Executive Officer of Molex said, “this transaction will allow us to build on Molex’s proud past and strengthen us for a powerful future. We are excited to work with Koch to continue our track record of growth and investment in people, innovation and technology.”

Charles Koch, Chairman and Chief Executive Officer of Koch Industries, considers Molex “an exciting acquisition which provides a significant new platform for growth”.

To read the article in full, please click here.

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