Cleary Gottlieb is representing Asahi Kasei in its acquisition of Polypore International, a manufacturer of microporous membranes, through a reverse subsidiary merger at a price of $60.50 per share. The transaction, which values Polypore at approximately $3.2 billion on an enterprise basis, was announced February 23. Polypore concurrently agreed that it will sell its separations media business to 3M Company for cash consideration of approximately $1.0 billion. As a result of the transactions, Asahi Kasei will acquire Polypore’s energy storage business. The transactions are subject to customary closing conditions, including certain regulatory approvals and the approval of Polypore’s stockholders.
This website uses cookies to improve user experience. By using our website you consent to all cookies in accordance with our Cookie Policy.