Agilent to sell chip unit
Agilent Technologies said it will sell its chip unit to two buyoutfirms for $2.66 billion, as well as sell and spin off other assetsand cut 1,300 jobs as part of a restructuring program. The maker ofelectronic test and measurement products plans to use proceeds fromthe deals for a $4 billion share repurchase program. Kohlberg KravisRoberts & Co. and Silver Lake Partners said their purchase ofAgilent's chip business will create the world's largest privatelyheld independent semiconductor company. The companies said they areequal partners in the venture. Shares of Agilent soared 14.8 percent,up $3.92, to $30.33. Agilent was spun off from …
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