Polypore Signs Definitive Agreements for Sale of the Company

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CHARLOTTE, N.C., February 23, 2015 – Polypore International, Inc. (NYSE: PPO) announces today that it has signed definitive agreements for the sale of the Company. In the merger agreement, Asahi Kasei Corporation (“Asahi Kasei,” TSE1:3407), through a U.S. subsidiary, will purchase the Company for $60.50 per share in cash. As an integrated step in this transaction, immediately prior to Asahi Kasei’s acquisition of Polypore, 3M Company (“3M,” NYSE: MMM) will acquire the assets of Polypore’s Separations Media segment for approximately $1.0 billion and Asahi Kasei will receive the cash proceeds from the asset sale. The definitive agreements require that the sale of the Company and the integrated sale of the Separations Media segment close after closing conditions for both transactions have been satisfied and that the closings of the transactions are conditioned upon one another.
 
 

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