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People & Business :: M&A

3M completes Ceradyne tender offer

8:59 AM MST | November 28, 2012 | Lindsay Frost

3M says it has successfully completed its tender offer for Ceradyne (Costa Mesa, CA) at $35/share. Ceradyne manufactures technical ceramic products and components for defense, industrial, energy, automotive and diesel, and commercial applications, the company says. Approximately 21-million shares were tendered and in the offer, which expired 27 November, representing about 87% of Ceradyne’s shares. An estimated 7.6% of shares, about 1.8 million, have not yet been tendered. 3M expects to close the deal later...

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