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Why Kemet Stock Popped 12% Today

TheMotleyFool

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Shares of Kemet Corporation (NYSE: KEM) are soaring this morning, up 12.3% as of 10:50 a.m. EST on news that the Fort Lauderdale-based producer of electronic components has agreed to sell itself to Taiwan's Yageo Corporation in an all-cash transaction.

Yageo will be paying $27.20 for each share of Kemet outstanding. Including assumed debt, the deal is valued at $1.8 billion, which Kemet notes is a 26% premium over its average share price over the last 30 trading days.

Both companies' boards of directors have already signed off on this price.

Source Fool.com

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