Apple Rumored to Acquire Loewe, a German HDTV Manufacturer
Apple is rumored to be negotiating the acquisition of Loewe AG, a manufacturer and distributor of televisions, audio components and integrated entertainment systems. The final decision regarding the acquisition is said to be announced later this week.
As of right now, the offer has yet to be accepted but an inside source is claiming that Loewe “has been advised by its financial advisor to accept the offer and a financial decision is scheduled to be announced internally before May 18, 2012.” It is being said that Apple is confidentially offering 87.3 million euros (roughly $112 million U.S.), a number that is a slight premium over the firm’s last closing share price of 4.519 euros (which gives it a market cap of 58.79 million euros or $76 million U.S.). Loewe’s primary shareholders currently include Sharp and LaCie as of right now with 28.83% and 11.17% shares respectively.
The news is particularly interesting due to rumors of Apple preparing to launch its high-definition television set. Loewe, which entered the TV market in 1929 employs roughly 1,000 workers worldwide in 50 countries that continue to be “made in Germany.” The company has seen its sales fall by 11% over the last year, which generated a loss of 10.5 million Euro ($13.57 million U.S.) in 2011. The company did report a resurgence in market growth due to its premium products recently.
The acquisition of such a company would probably lead to further advancements in the HDTV space for Apple so we’ll have to wait and see if such a deal goes through.