DC Advisory acts as the exclusive financial advisor to Kyocera Corporation (Kyocera) on the acquisition of AVX Corporation (AVX) for approximately $1.05 bn. The offer price of $21.75 per share represented a 44.6% premium over AVX’s closing price on November 26 2019 (the last trading day prior to the announcement of Kyocera’s initial proposal). The transaction was completed via a public market tender offer and subsequent short form merger, which was completed on March 30 2020.
The acquisition reflects Kyocera’s global expansion strategy and will enable Kyocera to strengthen its technical development and relationship with AVX.
Based in Kyoto, Japan, Kyocera is a leading Japanese conglomerate operating across a wide range of sectors, including industrials, automotive, semiconductor, electronics, communications, life science and environment.
Based in Fountain Inn, South Carolina, AVX is a leading worldwide manufacturer, supplier, and reseller of a broad line of electronic components, interconnect, sensing and control devices, and related products. Prior to Kyocera’s acquisition of AVX, Kyocera had held a ~72% stake in AVX since 1995.