Mitsui Chemicals to acquire chip-materials maker JSR from JIC for $11.6 billion in Japan's largest chemicals deal

Mitsui Chemicals said Monday it will acquire chip-materials maker JSR from state-backed Japan Investment Corp (JIC) for 1.84 trillion yen, about $11.61 billion at $1 = 158.45 yen, the largest deal in Japan's chemicals sector and a transaction that hands a strategic buyer control of the photoresists used to pattern circuit images onto every advanced semiconductor wafer.

Key Takeaways Mitsui Chemicals to pay 1.84 trillion yen ($11.61 billion) for JSR, the largest chemicals acquisition in Japan's history. The price is nearly three times Mitsui's own 664.6 billion yen market capitalization. Mitsui's shares fell 8.5% Monday, extending a slide that started when Reuters named it the final buyer last…