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Agilent s Sale of Semiconductor Unit Delayed to December

NEW YORK, Oct. 14 (GenomeWeb News) - Agilent Technologies said yesterday it expects to close the sale of its semiconductor operations to private equity firms Kohlberg Kravis Roberts & Co. and Silver Lake Partners "on or near" Dec. 1, which is later than originally planned.

When Agilent announced the sale in August, it said the deal would close by Oct. 31. Agilent did not mention the delay in a statement yesterday, but it said that the "target closing date is timed to position the companies to provide a seamless transition for customers, suppliers and employees in the 19 countries in which SPG operates."

 

As GenomeWeb News reported the planned sale, Agilent said it will sell its chip unit to the buyout firms, which will be equal partners in the venture, for $2.66 billion.

Kohlberg and SilverLakesaid at the time that their purchase will create the world's largest privately held independent semiconductor company.

Agilent previously said it plans to use proceeds from the deal for a $4 billion share repurchase program.

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