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Chemical Week Magazine :: Business & Finance :: United States/Americas

3M to acquire ceramics maker Ceradyne for $860 million

6:21 AM MDT | October 5, 2012 | ­—Vincent Valk

3M has reached an $860-million deal to acquire Ceradyne, giving it entry into technical ceramics for body armor, industrial, and energy applications. 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, part of its industrial (formerly industrial and transportation) business. “Ceradyne is an excellent complement to...

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