Koch Industries to buy Molex for $7.2 billion
Molex, a maker of electronic connectors and cable assembly products, said privately owned energy and chemicals conglomerate Koch Industries will buy it for about $7.2 billion.
The deal for $38.50 per share in cash represents a 42 percent premium on average to the Friday closing prices of Molex's two classes of publicly traded shares, Molex said.
Molex will become a standalone unit of Koch Industries and will continue to be run by the company's current management.
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Koch Industries, which owns brands such as Brawny paper towels and Dixie Cups, is controlled by brothers Charles and David Koch, two of the world's richest men.
William Blair & Co. and BDT & Co. are financial advisers to Molex, while Goldman Sachs provided a fairness opinion and other financial advice, the company said.
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