(www.woodhead.com), of Deerfield, Ill., for about $256 million in cash, the two companies said. Woodhead is a maker of electrical and electronic industrial products.
The two companies said on June 30 that they have signed a definitive merger agreement by which Molex will acquire Woodhead in an all-cash transaction valued at approximately $256 million. The transaction, which is subject to certain legal and regulatory conditions, has been approved by the Boards of Directors of both companies.
“The acquisition of Woodhead is a significant step in our strategy to expand our products and capabilities in the global industrial market,” said Martin Slark, vice chairman and chief executive officer of Molex.
Philippe Lemaitre, chairman, president and chief executive officer of Woodhead said, “The combination of Woodhead with Molex will provide great opportunities for our customers, employees, suppliers and other constituencies. Our industry is consolidating and Woodhead stakeholders will benefit from being part of a larger company with exciting growth opportunities.
