Koch Industries to Buy Tech Company for $7.2 Billion
Acquires Molex, an electronic connection manufacturer
Koch Industries, the giant privately held conglomerate, agreed on Monday to buy Molex, a maker of electronic connectors, for $7.2 billion in one of the biggest-ever acquisitions by the company.
Under the terms of the deal, Koch will pay $38.50 a share. That's a 31 percent premium to the Friday closing price for Molex's common stock and a 56 percent premium to its Class A shares.
Members of Molex's founding Krehbiel family and the management team, representing about 32 percent of the company's common stock and 94 percent of its Class B shares, agreed to vote their holdings in favor of the deal.