Applied Materials to Buy Kokusai Electric from KKR for $2.2 Billion
July 01 2019 - 6:44AM
Dow Jones News
By Chris Wack
Applied Materials Inc. (AMAT) said Monday that it is buying
Kokusai Electric Corp. for $2.2 billion in cash from global
investment firm KKR & Co. (KKR).
Applied Materials said in a release that, following the close of
the transaction, Kokusai Electric will operate as a business unit
of its Semiconductor Products Group and continue to be based in
Tokyo.
Applied Materials said the acquisition is expected to be
immediately accretive to its adjusted earnings per share at
close.
Applied Materials expects to finance the transaction using a
combination of balance sheet cash and a term loan facility. The
transaction is expected to close within 12 months.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
July 01, 2019 06:29 ET (10:29 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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