Koch Finishes $7.2B Deal For Ill. Company
WICHITA, Kan. (AP) -- Wichita-based Koch Industries Inc. has completed its $7.2 billion purchase of an Illinois company that makes electronic components and cables.
Koch says it is paying $38.50 per Molex Inc. share in cash, plus 18 cents per share, representing a pro-rata portion of the regular quarterly cash dividend.
Molex will keep its headquarters in Lisle, Ill., and will retain its current name and management team. The boards of both companies approved the transaction, which is expected to close by the end of the year.
Koch is run by billionaire brothers Charles and David Koch. Charles Koch says Molex matches up well with his company's "culture and core capabilities."
Koch owns a variety of businesses, including the paper and paper products maker Georgia-Pacific, and has annual sales of $115 billion.