Ericsson (ERIC) Shares March Higher Amid Rumor Sony (SNE) Could Buyout Stake in Joint Venture
Tweet
Share
E-mail
Get Alerts ERIC Hot Sheet
Join SI Premium – FREE
Shares of Ericsson (Nasdaq: ERIC) are now up more than 6 percent Thursday morning following headlines from the WSJ that Sony (NYSE: SNE) may be taking a look at buying out the company's stake in their current 50/50 joint venture.
A source has warned the talks are fluid and could fall apart at any time. Bloomberg noted "regular discussions" in years past related to the ownership structure of the venture.
After opening flat from Wednesday's close, Ericsson shares last traded at $10.20. Shares of Sony are also moving on the rumor, however to the downside. Sony last traded at $18.93.
A source has warned the talks are fluid and could fall apart at any time. Bloomberg noted "regular discussions" in years past related to the ownership structure of the venture.
After opening flat from Wednesday's close, Ericsson shares last traded at $10.20. Shares of Sony are also moving on the rumor, however to the downside. Sony last traded at $18.93.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Bernstein on whether Hershey (HSY) could eventually step up to buy Mondelez (MDLZ)
- Holcim to acquire Fermacell from James Hardie for EUR 840M
- Two Harbors receives final approval for CrossCountry Mortgage merger
Create E-mail Alert Related Categories
Mergers and Acquisitions, RumorsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
