Koch Industries, Inc. Completes Purchase of Molex Incorporated
December 09 2013 - 8:46AM
Business Wire
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.
“We’re pleased to welcome Molex’s 36,000 talented leaders and
employees to Koch,” said Charles Koch, chairman and chief executive
officer of Koch Industries. “Molex is a great company that creates
real value for its customers and society and matches up well with
our culture and core capabilities.”
Dave Robertson, president and COO of Koch Industries said, “This
acquisition represents a new platform for growth and innovation for
us. We’re looking forward to applying our Market-Based Management®
philosophy at Molex to help identify and capture additional
opportunities.”
“Now that the transaction has closed, we are eager to move
forward with our new owners,” said Martin Slark, chief executive
officer of Molex. “We believe that combining the global strengths
of Molex and Koch will create an exciting future for all our
stakeholders.”
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.
About Koch Industries, Inc.
Based in Wichita, Kan., Koch Industries, Inc. is one of the
largest private companies in America with annual revenues of about
$115 billion. It owns a diverse group of companies involved in
refining, chemicals and biofuels; forest and consumer products;
fertilizers; polymers and fibers; process and pollution control
equipment and technologies; minerals; commodity trading and
services; ranching; glass; and investments. Since 2003, Koch
companies have invested about $60 billion in acquisitions and other
capital expenditures. With a presence in nearly 60 countries, Koch
companies employ about 60,000 people worldwide. In 2012, Koch
companies employed nearly 50,000 people in the United States and
paid compensation and benefits totaling more than $4 billion. From
January 2009 to present, Koch companies earned about 770 awards for
safety, environmental excellence, community stewardship,
innovation, and customer service. For more information, visit
www.kochind.com.
About Molex Incorporated
Molex Incorporated is a 75-year-old global manufacturer of
electronic, electrical and fiber optic interconnection systems.
Based in Lisle, Illinois, the company operates 45 manufacturing
locations in 17 countries and employs more than 36,000 people
globally. Molex offers approximately 100,000 products through
direct salespeople and authorized distributors. Markets that Molex
serves include mobile devices, infotech, consumer electronics,
automotive, telecommunications, industrial, medical, military and
aerospace. Sales for the fiscal year ended June 30, 2013 were $3.6
billion. More than 70 percent of Molex’s revenues come from
products sold outside the United States. The Molex website is
www.molex.com.
Molex IncorporatedSusan ArmitageVP, Corporate
Communications630-527-4561Susan.armitage@molex.comorKoch Companies
Public Sector, LLCMelissa CohlmiaDirector, Corporate
Communication316-828-3756Melissa.cohlmia@kochps.com
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