Loewe shares rise on revived Apple buyout rumors
Wednesday, February 13, 2013 @ 11:45am
| Shares of German TV maker Loewe have risen 43 percent on revived rumors of an Apple buyout, Reuters reports. "Apple supposedly wants to bid 4 euros a share for Loewe," one stock trader is quoted as saying. A Loewe spokesman claims the company is unaware of any acquisition offer, while Apple has refused to comment one way or another on the matter.
Rumors of a takeover circulated last May, but were quickly dismissed by Loewe, and nothing materialized out of them. The company has been suffering financially though, having seen losses nearly triple to 29 million euros in 2012. To compensate the company is firing about 200 people, and trying to increase cooperation with Sharp. Its weak position could make it an easy purchase.
Both Loewe and Sharp have had their names discussed in the context of an Apple TV set. While some reports have claimed that prototypes already exist, the device doesn't appear to have progressed beyond that stage. Apple may be waiting on stalled content deals, since the company is thought to be angling for à-la-carte subscriptions that could undermine the bundle deals typically arranged between networks and cable/satellite providers.