FX.co ★ U.S. billionaire brothers bought Apple iPhone supplier for $7.2 bln

Koch Industries Inc., the holding company controlled by the billionaire Koch brothers, acquired Molex Inc., a maker of electronic components, for $7.2 billion, according to Bloomberg.
Koch brothers agreed to buy Molex’s shares for $38.5 a piece, a 31% premium over the publicly traded common stock. The Krehbiel family is a seller who has owned the company since it was established in 1938. The deal will be completed by the end of the year. The purchase provides a condition that Molex will be an independent division of Koch Industry with headquarters in Lisle, Illinois.
Koch Industries is using the acquisition to expand into the electronic equipment market. The Molex purchase is the largest acquisition of Koch Industries for the past 8 years. Since 2003, according to the holding, its capital expenditures amounted to $50 billion, including new assets purchases.
Molex is well-known for supplying components for Apple’s iPhone. Also it is one of the biggest producers of optical fiber in the USA. The company cooperates with the American motor vehicle producers and the defense industry companies.
Koch Industries is a closely held company that owns everything from biofuel to assets in the financial and agricultural sectors. The company is not public – its shares are not present on the stock market. In 2012 Koch Industry was no. 2 after Cargill on Forbes’ 2012 ranking of “America’s Biggest Private Companies”.
Koch Industries is a company of brothers Charls and Devid Koch. According to Forbes, their financial position is $34 billion. The brothers became famous as ones of the major sponsors of the conservative part of the Tea Party.