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DuPont to acquire Laird Performance Materials for $2.3 billion
08 March 2021
Global chemicals and techno-materials major DuPont is acquiring Laird Performance Materials for $2.3 billion, in a deal that will add critical capabilities and market leading offerings in thermal management and electromagnetic shielding essential to emerging electronic applications.
DuPont on Monday announced the signing of a definitive agreement with private equity firm Advent International, which owns Laird Performance Materials for $2.3 billion, which will be paid from existing cash balances.
The transaction is expected to close in the third quarter of 2021, subject to regulatory approvals and other customary closing conditions, DuPont stated in a release.
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DuPont to Acquire Laird Performance Materials from Advent International Strengthens DuPont s leadership position in advanced electronic materials for key markets including smart/autonomous vehicles, 5G telecommunications, artificial intelligence, internet of things, and high-performance computing Adds critical capabilities and market leading offerings in thermal management and electromagnetic shielding essential to emerging electronic applications Significantly accelerates the transformation of E&I s Interconnect Solutions business into a total solutions provider Purchase price of $2.3 billion and forecasted cost synergies of $60 million yield transaction multiple of ~15x excluding synergies and ~11x including synergies
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DuPont said on Monday it would buy Laird Performance Materials for $2.3 billion from private equity firm Advent International, as it looks to expand its portfolio of advanced electronic materials that is used in areas such as smart and autonomous vehicles and fifth generation telecommunications. Rapidly increasing demand for these materials also used in high-performance computing, artificial intelligence, and internet of things has led to electronics becoming a key growth area for DuPont. The company last month forecast full-year profit and revenue above Wall Street expectations on the back of robust demand from chip companies and smartphone makers launching 5G handsets.