Polypore sells the Company to Asahi Kasei for $3.2 billion
Clients Polypore International, Inc.
Jones Day advised Polypore International, Inc. (NYSE:PPO) in its definitive agreements for the sale of the Company to Asahi Kasei Corporation (TSE1:3407), through a U.S. subsidiary, for $60.50 per share in cash. As an integrated step in this transaction, immediately prior to Asahi Kasei's acquisition of Polypore, 3M Company acquired the assets of Polypore's Separations Media segment for approximately $1.0 billion and Asahi Kasei received the cash proceeds from the asset sale. The per share consideration represents an enterprise value for the Company of approximately $3.2 billion.
In addition to M&A representation, Jones Day provided antitrust advice regarding this transaction.