Amphenol to Sell Stake to KKR Affiliate

Wallingford, Conn.-based Amphenol Corp., a maker of electronics and industrial connectors and cable, said it has agreed to be acquired by Kohlberg Kravis Roberts & Co. in a deal worth $1.5 billion, including refinanced debt. Under the agreement, NXS Acquisition Corp., a KKR affiliate, will offer $26 in cash for a majority of Amphenol’s stock, giving NXS control of more than 75% of the company. Amphenol stockholders can choose to keep up to 4.4 million, or 10% of the company’s 44.7 million shares outstanding, valued at $1.16 billion. Amphenol rose $2.625 to $25.75 on the New York Stock Exchange.