Skadden Aids Toray On $584M Deal For Carbon Fiber Maker

Law360, New York (September 27, 2013, 12:27 PM EDT) -- Japanese conglomerate Toray Industries Inc. has agreed to acquire St. Louis-based carbon fiber manufacturer Zoltek Cos. Inc. in a $584 million stock deal and make it a wholly owned subsidiary, Toray announced Friday.

Toray will pay Zoltek stockholders $16.75 per share in the deal. Shares of Zoltek, which bottomed out at $6.02 in November, had risen as high as $19.09 this week as deal speculation intensified.

Zoltek makes and sells so-called large tow carbon fibers, which are usually combined with other materials and are used in...
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