3M (NYSE: MMM), the maker of Post-its and Scotch tape, will acquire Ceradyne Inc. (Nasdaq: CRDN) for $860 million, including cash and debt.
The agreement represents a price of $35 per share.
Ceradyne, headquartered in Costa Mesa, Calif., develops and produces technical ceramics for the automotive, oil, solar, industrial, electronics and defense industries.
3M is a diversified technology company based in St. Paul, Minn. It acquired CodeRyte Inc. in April and Federal Signal Technologies Group for $110 million in June.