Polypore sold to Asahi Kasei, 3M
Polypore International, a North Carolina-based high technology filtration company specialising in microporous membranesis being sold in two parts.
Acquiring the Energy Storage business is Japanese chemicals firm, Asahi Kasei Corporation. Through a US subsidiary, it will purchase Polypore for US$60.50 per share in cash.
On the other hand, Polypore’s Separations Media business will be acquired by 3M, a Minnesotta-based consumer and industrial products company, for approximately US$1 billion. Asahi Kasei will receive the cash proceeds from the asset sale.
Polypore’s shareholders approved the two-part sale deal, which has a total value of approximately US$3.2 billion
(PRA)
