AVX Announces Completion of Merger with Kyocera Corporation
30 Marzo 2020 - 6:56AM
Business Wire
AVX Corporation (NYSE: AVX) (“AVX”) announced today the
successful completion of its previously announced acquisition by
Kyocera Corporation (“Kyocera”), following the completion of
Kyocera’s tender offer to purchase any and all outstanding shares
of AVX common stock that it did not already own. The tender offer
expired one minute after 11:59 p.m. (New York City time) on March
27, 2020 and was not extended. As of the expiration of the tender
offer, a total of 31,763,490.559 shares of AVX common stock were
validly tendered and not validly withdrawn pursuant to the tender
offer, representing approximately 67.0% of the outstanding shares
of AVX common stock not already owned by Kyocera. In addition,
“Notices of Guaranteed Delivery” have been delivered for 2,548,489
shares of AVX common stock, representing approximately 5.4% of the
outstanding shares not already owned by Kyocera. All shares of AVX
common stock that were validly tendered and not validly withdrawn
have been accepted by Kyocera for payment in accordance with the
terms of the tender offer.
Kyocera completed the acquisition of AVX today through a
second-step merger of a wholly-owned subsidiary of Kyocera with and
into AVX, in accordance with Section 251(h) of the Delaware General
Corporation Law (the “DGCL”). Each remaining share of AVX common
stock not purchased in the tender offer (other than shares held by
AVX, Kyocera or their respective subsidiaries, or any AVX
stockholders who have properly exercised their appraisal rights
under Section 262 of the DGCL) was converted into the right to
receive $21.75 in cash, net to the seller in cash, without interest
and subject to deduction for any required withholding taxes, which
is the same amount per share paid in the tender offer. As a result
of the completion of the merger, shares of AVX common stock ceased
trading on the New York Stock Exchange (“NYSE”) prior to market
open today and will no longer be listed for trading on the
NYSE.
About AVX Corporation
AVX is a leading worldwide manufacturer, supplier, and reseller
of a broad line of electronic components, interconnect, sensing and
control devices, and related products. Electronic components and
connector, sensing and control products manufactured or resold by
AVX are used in many types of end use products, including those in
telecommunications, automotive, transportation, energy harvesting,
consumer electronics, military/aerospace, medical, computer, and
industrial markets. AVX, headquartered in Fountain Inn, South
Carolina.
Please visit our website at www.avx.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20200330005396/en/
AVX Corporation, Fountain Inn Mike Hufnagel, 864-967-9351
investor.relations@avx.com
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