|
|
Article: JAPAN'S KENWOOD, 3 OTHERS VYING TO BUY AUDIO EQUIPMENT FIRM D&M.
- Article from:
- AsiaPulse News
- Article date:
- April 15, 2008
CopyrightCOPYRIGHT 2008 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
TOKYO, April 15 Asia Pulse - A corporate alliance led by Japan's Kenwood Corp. (TSE:6765) and three other firms are in the running to acquire midsize audiovisual equipment manufacturer D&M Holdings Inc. (TSE:6735), with the final round of bidding to take place as early as mid-May, The Nikkei learned Monday.
Thanks to its continuing high profitability, D&M is expected to fetch a purchase price of roughly 50 billion yen (US$496 million) -- well above its market capitalization -- in the final auction.
U.S. investment firm RHJ International, formerly Ripplewood Holdings, which owns about 49% of D&M, has already decided to sell its entire stake. So has the ...