Asahi Kasei to acquire Polypore for US$3.2b

Tokyo

ASAHI Kasei Corp, a Japanese chemicals and fibre maker, agreed to acquire Polypore International to expand its battery business and boost capacity overseas.

Asahi Kasei will pay US$60.50 per share in cash, about 24 per cent more than the 20-day average, in a deal that values Polypore at US$3.2 billion, Charlotte, North Carolina-based Polypore said in a statement. Polypore is also selling about US$1 billion in assets and liabilities to 3M Co, according to the statement.