Progress in procedures related to acquisition of Polypore
Asahi Kasei Corp.
On February 23, 2015, Asahi Kasei announced that it had entered into a definitive merger agreement to acquire Polypore International, Inc. (NYSE: PPO) through a US subsidiary. The completion of the merger is subject to customary closing conditions and to the closing of the sale of Polypore’s Separations Media segment to 3M Company. On August 19, 2015, antitrust clearance for the merger was granted from the Fair Trade Commission of the Republic of Korea. With the receipt of this clearance, Polypore, Asahi Kasei and 3M Company have received all antitrust clearances from applicable U.S. and foreign regulatory authorities required in connection with the merger and the sale of Polypore’s Separations Media segment. The transactions are expected to close on August 26, 2015.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
This press release contains certain statements that are “forward-looking statements”, including without limitation statements regarding the expected timing of the completion of the transactions described in this press release. Such statements are qualified by the inherent risks and uncertainties surrounding future expectations generally, and actual results could differ materially from those currently anticipated due to a number of risks and uncertainties, including without limitation the possibility that the closing conditions to the contemplated transactions may not be satisfied or waived. We do not undertake any obligation to update any forward-looking statements as a result of new information, future developments or otherwise, except as expressly required by law. All forward-looking statements in this announcement are qualified in their entirety by this cautionary statement.