We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
NYSE:PPO | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 60.48 | 0 | 01:00:00 |
By Atsuko Fukase
TOKYO-- Asahi Kasei Corp. said Monday it has agreed to buy the energy storage business of Charlotte, N.C.-based Polypore International Inc. for $2.2 billion, marking the latest multibillion-dollar deal by a Japanese company seeking growth.
The Tokyo-based maker of fibers and textiles said it would buy Polypore's business specializing in microporous membranes for $60.50 a share, a 28.4% premium to the 30-day average of the company's share price.
In a statement, Asahi Kasei President Toshio Asano said the environment and energy business is "an area of strategic focus for us as we expand and grow, creating new value for the future."
At the same time, Polypore has agreed to sell the assets of its Separations Media business to 3M for $1 billion. Separations Media is a leading provider of microporous membranes and modules for filtration in the life sciences.
Overseas acquisitions aren't new for Asahi Kasei. In 2012, it bought Massachusetts-based Zoll Medical Corp. for $2.2 billion to expand its business in critical care products for hospitals.
Monday's deal is the latest in a wave of acquisitions by Japanese companies over the past month, despite the weakening yen.
Japan Post Holdings Co. said last week it had agreed to acquire the Australian logistics company Toll Holdings Ltd. for $5.1 billion.
Kintetsu World Express Inc., a Japanese airfreight operator, said last week it had agreed to buy APL Logistics Inc. from Singapore-based Neptune Orient Lines Ltd. for $1.2 billion.
On Feb. 10, Canon Inc. said it had agreed to acquire Axis Communications AB of Sweden for $2.8 billion. And in January, trading house Itochu Corp. jointly took a 20% stake in China's Citic Ltd. with Thailand's Charoen Pokphand Group for $10 billion.
Write to Atsuko Fukase at atsuko.fukase@wsj.com
Access Investor Kit for Asahi Kasei Corp.
Visit http://www.companyspotlight.com/partner?cp_code=P479&isin=JP3111200006
Access Investor Kit for Canon, Inc.
Visit http://www.companyspotlight.com/partner?cp_code=P479&isin=JP3242800005
Access Investor Kit for Kintetsu World Express, Inc.
Visit http://www.companyspotlight.com/partner?cp_code=P479&isin=JP3262900008
Access Investor Kit for Neptune Orient Lines Ltd.
Visit http://www.companyspotlight.com/partner?cp_code=P479&isin=SG1F90001388
Access Investor Kit for Asahi Kasei Corp.
Visit http://www.companyspotlight.com/partner?cp_code=P479&isin=US0434001006
Access Investor Kit for Canon, Inc.
Visit http://www.companyspotlight.com/partner?cp_code=P479&isin=US1380063099
Access Investor Kit for Neptune Orient Lines Ltd.
Visit http://www.companyspotlight.com/partner?cp_code=P479&isin=US6407732063
Access Investor Kit for Polypore International, Inc.
Visit http://www.companyspotlight.com/partner?cp_code=P479&isin=US73179V1035
Access Investor Kit for 3M Co.
Visit http://www.companyspotlight.com/partner?cp_code=P479&isin=US88579Y1010
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
1 Year Polypore Internation Chart |
1 Month Polypore Internation Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions