“German luxury brand Loewe experienced a roller coaster day,” Romain Dillet reports for TechCrunch.
“A trader commented that ‘Apple supposedly wants to bid 4 euros a share for Loewe,’ which sent Loewe shares up as much as 44.5 percent to €3.93 compared to yesterday’s closing price of €2.72,” Dillet reports. “The German stock exchange closed today with Loewe shares trading at €3.35, representing a one-day increase of 23.16 percent.”
Dillet reports, ” Selling the company to Apple or anyone else would be a way to exit the tedious luxury TV market… For Apple, Loewe could represent another small strategic acquisition. Yesterday, Tim Cook said that the company closes a deal every other month.”
Read more in the full article here.
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