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Kenwood among contenders in expected $493 million D&M bid

HONG KONG (MarketWatch) — A Kenwood Corp.-led consortium is vying against separate bids by Merrill Lynch, Best Buy Co. and buyout fund Advantage Partners LLP in seeking to acquire D&M Holdings Inc. , maker of the Denon and Marantz brands of audiovisual equipment. The firm is expected to fetch up to 50 billion yen ($493 million) during final bidding due mid-May, the Nikkei business daily reported, without saying where it got the information. United States-based investment firm RHJ International has committed to selling its 49% stake in D&M. Dutch group Philips Electronics NV is the second-largest shareholder in D&M. The Kenwood alliance is backed by U.S. group Bain Capital LLC.
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Original post by Forextvblog

This entry was posted on Monday, April 14th, 2008 at 10:22 pm and is filed under Daily Forex Analysis. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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