Koch Industries has completed yet another purchase this year ā this time it is automation and connectivity products providerĀ Molex.
The $7.2 billion acquisition was finalized when subsidiary Koch Connectors merged with Molex, making Molex an indirect, wholly-owned subsidiary of Koch Industries. Molxs will retain its name and headquarters in Lisle, Ill.
"Now that the transaction has closed, we are eager to move forward with our new owners," said Martin Slark, chief executive officer of Molex. "We believe that combining the global strengths of Molex and Koch will create an exciting future for all our stakeholders."
"This acquisition represents a new platform for growth and innovation for us," saidĀ Dave Robertson, president and COO of Koch Industries.Ā "We're looking forward to applying our Market-Based Management philosophy at Molex to help identify and capture additional opportunities."
Molex shares will no longer be available on NASDAQ Global Select Market, the London Stock Exchange, or any other securities exchange as a result of the merger, but the companyās operations will remain in tact by it current management team.
