“Shares in German luxury TV maker Loewe jumped to a 10-month high on Monday on market talk of a potential offer from Apple,” Reuters reports.
“Web blog AppleInsider cited a person familiar with the matter as saying Apple was willing to pay 87.3 million euros ($113 million), or a 48 percent premium on Loewe’s closing price on Friday of 4.5390 euros per share,” Reuters reports. “A spokesman for Loewe said that management at the moment has no indication or information that Apple wants to participate in Loewe. Apple declined to comment.”
Reuters reports, “Loewe shares were up 30 percent by 0845 GMT at 5.92 euros. Trading volumes were more than three times its 90-day average. A German trader said such a deal could make sense. ‘Look at Loewe’s design. That is a big ‘yes,’ I would say. The only problem is Loewe makes its TVs in Germany.'”
Read more in the full article here.
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