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Confusions Surrounds an Apple (AAPL) TV Acquisition

February 13, 2013 1:14 PM EST Send to a Friend
At the Goldman Sachs conference yesterday, Apple (Nasdaq: AAPL) CEO Tim Cook said the company is open to acquisitions. Less than 24 hours later rumors of a pending deal swept across markets.

The rumored target for Apple is German HDTV maker Loewe AG.

AppleInsider first reported the deal, saying a final decision is expected by the end of the week. The report said no offer has yet been accepted, although a source said the company "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."

The deal makes sense given Apple's ambitions of expanding in the TV market and rumors they will introduce a full-fledged TV.

Shares of Loewe AG surged 30 percent in German trading.

While the AppleInsider report had details suggesting a deal was in fact close, comments from Loewe's management suggests otherwise. Loewe CEO Oliver Seidl that the company has had "no contact" with Apple about a deal. In addition, supervisory board Chairman Rainer Hecker also said he is not aware of any takeover intentions.

So the question then is: Did AppleInsider have a bad source? or has Apple not yet approached Loewe about a deal?




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Insiders' Blog, Mergers and Acquisitions, Rumors

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