Koch Industries completes Molex acquisition
Koch Industries, Inc. has completed their $7.2 billion acquisition of Molex, which will be an indirect wholly-owned subsidiary of Koch Industries.
Koch Industries, Inc. has completed its $7.2 billion acquisition of Molex Incorporated (NASDAQ: MOLX, MOLXA), a global electronic components company.
The acquisition was finalized through the merger of Koch Industries’ wholly owned subsidiary, Koch Connectors, Inc., with and into Molex. As a result of the merger, Molex is now an indirect wholly-owned subsidiary of Koch Industries, Inc., retaining its name and headquarters in Lisle, Illinois. The company will continue to be operated by its current management team.
Under the merger agreement, all of the outstanding shares of Molex, including the Common Stock, the Class A Common Stock and the Class B Common Stock were converted into a right to receive $38.50 per share in cash, plus an adjustment of $0.18 per share representing a pro rata portion of the regular quarterly cash dividend.
As a result of the merger, Molex shares will no longer be listed on the NASDAQ Global Select Market, the London Stock Exchange, or any other securities exchange. Molex will file a Certification on Form 15 with the Securities and Exchange Commission under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), to suspend Molex’s reporting obligations under Sections 13(a) and 15(d) of the Exchange Act.
Koch Industries Inc.
- Edited by CFE Media. See more Control Engineering system integrator stories.
Linked below, see other news and products related to Molex.
- Events & Awards
- Magazine Archives
- Oil & Gas Engineering
- Salary Survey
- Digital Reports
Annual Salary Survey
Before the calendar turned, 2016 already had the makings of a pivotal year for manufacturing, and for the world.
There were the big events for the year, including the United States as Partner Country at Hannover Messe in April and the 2016 International Manufacturing Technology Show in Chicago in September. There's also the matter of the U.S. presidential elections in November, which promise to shape policy in manufacturing for years to come.
But the year started with global economic turmoil, as a slowdown in Chinese manufacturing triggered a worldwide stock hiccup that sent values plummeting. The continued plunge in world oil prices has resulted in a slowdown in exploration and, by extension, the manufacture of exploration equipment.
Read more: 2015 Salary Survey