Toray to buy Zoltek for $16.75 per share

|About: Toray Industries Inc. (TRYIF)|By:, SA News Editor

As tipped Thursday, Toray Industries (TRYIF.PK) is set to acquire carbon fiber maker Zoltek (ZOLT), although the price is lower than some anticipated (the deal was originally reported to be for more than $610M).

The purchase price is $584M, which works out to around $16.75/share in cash — that's a 9% discount to Thursday's close.

ZOLT -9.8% premarket.