Agilent Sells Chip Unit

Agilent(A Quote) is expected to announce Monday that Kohlberg Kravis Roberts and Silver Lake Partners have won the auction for its semiconductor business with a bid of about $2.6 billion, according to Reuters reports.

Citing a source close to the sale process, Reuters stated that the anticipated announcement would signal a close to jockeying by private equity firms for the business. The chip unit, which supplies semiconductors for consumer and commercial electronics applications such as PC peripherals and mobile phones, was put up for sale in June.

Agilent shares ended Friday's session 29 cents higher, gaining 1.11% to close at $26.41. The company is scheduled to report third-quarter earnings Monday before the opening bell.