4 Firms Steer Kyocera's AVX Takeover At $3.7B Valuation

Law360 (February 21, 2020, 2:00 PM EST) -- Japanese manufacturer Kyocera on Friday said it will acquire all shares of electronics component company AVX that it doesn't already own, in a transaction steered by Wachtell Lipton, Alston & Bird, Nagashima Ohno and Davis Polk that gives AVX a roughly $3.7 billion valuation.

Kyocera Corp. will pay $21.75 in cash per share for AVX Corp.'s outstanding common stock, a sweetened offer from its November proposal to pay $19.50 per share, the announcement said. Kyocera currently owns a 72% stake in South Carolina-based AVX, and once the takeover is complete, AVX will be a wholly owned subsidiary, the statement said....

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