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3M acquiring technical ceramics maker for $860 million
1:26 PM MDT | October 1, 2012 | Vincent Valk
3M is acquiring Ceradyne, a maker of technical ceramics for automotive, oil and gas, solar, industrial, and electronics applications, for $860 million. The deal values Ceradyne at $35/share, a premium of about $10/share on Ceradyne’s closing price on 28 September. The company’s annual revenue totals about $500 million. The acquisition is expected to close during the fourth quarter. Ceradyne will join 3M’s energy and advanced materials division, a part of the company’s industrial and transportation business. “Ceradyne is a...
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