Feb. 23, 2015, 7:04 AM
- Asahi Kasei (OTCPK:AHKSY) has agreed to buy Polypore's (NYSE:PPO) energy storage segment, as it seeks to expand in the energy and environment business.
- Asahi Kasei will pay $60.50 per share in cash, a 14% premium to their $52.95 close on Friday, and representing an enterprise value of about $3.2B.
- Immediately prior to Asahi Kasei’s purchase of Polypore, 3M (NYSE:MMM) will acquire the assets of Polypore’s separations media business for about $1B and Asahi Kasei will receive the cash proceeds from asset sale.
- PPO +13.2% premarket
Asahi Kasei Corporation, with consolidated sales of $10 billion, provides innovative solutions based in chemistry and materials science to a diverse range of markets including fibers, chemicals, consumer products, housing, construction, electronics, and health care. On October 1, 2003, all core... More
Sector: Basic Materials
Industry: Chemicals - Major Diversified
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