Mitsui Chemicals may acquire JSR for $8.2 billion

Japan's state-owned fund, Japan Investment Corp, is considering selling JSR, which it currently owns. Mitsui Chemicals has expressed interest in acquiring the company. The deal could be worth more than $8.2 billion.

JSR manufactures specialized materials required for chip production, which are used to transfer chip circuitry onto silicon wafers. Japan's state fund acquired the company roughly two years ago for approximately ¥900 billion.

Mitsui Chemicals has confirmed that it is considering acquiring JSR, though no final decision has been made yet. An answer is expected to be known by the end of November.

The value of the potential deal exceeds Mitsui Chemicals' own market value, and the company also carries significant debt. Following the news, its shares fell by 13%.

Source: Reuters