Forbes
Date: May 3, 2020
By: Russell Flannery, Forbes Staff

Shares in U.S. electronics component supplier Kemet closed at a four-month high at the New York Stock Exchange on Friday, ending a week in which China regulators approved its $1.8 billion purchase by Yageo Corp. of Taiwan.

Yageo, which makes electronic components such as capacitors and resistors, said on April 29 China’s Anti-Monopoly Bureau of the State Administration for Market Regulation had given a go-ahead to the Kemet deal. That follows a similar approval from the Committee on Foreign Investment in the U.S. on April 23. The two clearances complete all international antitrust approvals needed for the transaction, which is expected to wrap-up in the third quarter, Yageo said.

The Kemet acquisition, announced last November, is one of the largest in the U.S. by a Taiwan company. It follows Yageo’s purchase of Pulse Electronics of San Diego in 2019 for $740 million, and will bring Yageo’s combined U.S. transactions to $2.5 billion in two years. Kemet is headquartered in Florida.    [FULL  STORY]