TAIPEI – Yageo plans to purchase Kemet in a $1.8 billion deal, according to reports. The electronic company says it will fund the transaction with cash and committed financing.

Yageo will offer $27.20 per Kemet share, representing an 18% premium to Monday's closing share price.

The firm says the move will enhance its ability to serve customers in consumer electronics, automotive, industrial, aerospace, telecom and medical sectors.

Operations will be added in North America, Europe and Asia.

The deal is expected to close in the second half of 2020, resulting in combined annual revenue of some $3 billion.

Both boards have approved the deal, which is subject to customary closing conditions and regulatory approvals.

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