Kyocera, a Japanese multinational ceramics and electronics manufacturer, completed the acquisition of a remaining 28% stake in AVX, a manufacturer, supplier, and reseller of a broad line of electronic components, for $1bn. Following the completion of the transaction, AVX will become a wholly-owned subsidiary of Kyocera. The $21.75 offer price represents a 44.6% premium over the closing price on November 26, 2019. The transaction is subject to customary closing conditions and is not subject to any financing condition.