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New York, NY -- (SBWIRE) -- 09/09/2013 -- Pennystocksupdate.biz issues special report on - Molex Incorporated (MOLX)
Molex Incorporated (NASDAQ: MOLX), an international electronic elements company, today declared that it has joined into a specified contract to be obtained by Koch Industries, one of the biggest and most effective private companies. Under the terms of the contract, Koch Sectors will obtain all of Molex's excellent stock, such as the Typical share (MOLX), the Category A Typical trade (MOLXA) and the Category B Typical trade, for $38.50 per discuss in cash, for a total value of roughly $7.2 billion dollars. Based on the ending discuss values on Sept 6, 2013, the price symbolizes a 42% top quality to the value of Molex's publicly-traded stock, particularly a 31% top quality of the Typical stock and a 56% top quality to the Category A Typical stock.
The agreement has been approved by both the Molex and the Koch Industries boards of directors. Certain members of the Krehbiel Family and certain executive officers of Molex, owning in the aggregate voting stock representing approximately 32% of the Common Stock and 94% of the Class B Common Stock, have entered into voting agreements with Koch by which they have agreed to vote their stock in support of the transaction.
At the close of the transaction, Molex will become a standalone subsidiary of Koch Industries and will continue to be operated by the company's current management team. Molex, with a 75-year history of industry-leading product innovation, will retain the company name following the transaction as well as its headquarters in Lisle, Illinois.
Charles Koch, chair and CEO of Koch Industries, views Molex "an interesting purchase that suits up well with our lifestyle and our primary abilities. It also provides an important new system for development.
Molex Incorporated is a 75-year-old global manufacturer of electronic, electrical and fiber optic interconnection systems. Based in Lisle, Illinois, the Company operates 41 manufacturing locations in 15 countries and employs more than 35,000 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. Over 70% of Molex's revenues comes from products sold outside the United States.
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.
Molex is exchanged on the NASDAQ International Choose Industry (MOLX and MOLXA) in the U. s. Declares and on the London, UK stock Return. The Organization's voting typical stock (MOLX) is involved in the S&P 500 Catalog.
How Should Investors React To MOLX Now? Check here.
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