Apple rumored to be in talks to acquire German HDTV maker Loewe


AppleInsider’s source claims that Apple is said to be negotiating to acquire Loewe AG, a manufacturer and distributor of televisions, audio components and integrated entertainment systems. Loewe "has been advised by its financial advisor to accept the offer and a final decision is scheduled to be announced internally before 18 May 2012."

This person said Apple is confidentially offering 87.3 million euros (about $112 million U.S.), a slight premium over the firm's last closing share price of 4.519 euros (giving it a market cap of 58.79 million euros or $76 million U.S.). Loewe's primary shareholders currently include Sharp (28.83 percent) and LaCie (11.17 percent).

Loewe entered the TV market in 1929, and now employs around 1,000 workers worldwide in 50 countries. The company has seen its sales fall by 11 percent over the last year, generating a loss of 10.5 million Euro ($13.57 million USD) in 2011.

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Written by Svetlana Osipova

Monday, May 14, 2012. 16:51

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