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Zoltek completes merger with Toray Industries

By: Tim Wright

Editor-in-Chief, Contract Pharma

 Zoltek Companies, Inc. announced that it had completed the merger contemplated by the Agreement and Plan of Merger with Toray Industries, Inc. The company and Toray announced the execution of the merger agreement on September 26, 2013. Under the terms of the agreement, Toray acquired all of the company’s outstanding shares for $16.75 per share in cash, for a total equity value of approximately $584 million. As a result of the merger, the company became a wholly-owned subsidiary of Toray and will operate as a separate business unit.
 

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