MUNICH/FRANKFURT (Reuters) – Merger-shy German chipmaker Infineon has agreed to buy California-based International Rectifier for about $3 billion (1.81 billion pounds)in cash, Infineon said on Wednesday, in its biggest-ever acquisition.
Terms call for it to pay $40 per share for the U.S. company, a maker of power-management circuits used in everything from computers to appliances, automobiles, lighting and aircraft.Shares of International Rectifier rose as high as $39.50 following the news. At 7:00 p.m. BST (1800 GMT), the stock was trading at $39.06, a gain of $12.51 or 47 percent on the day on the New York Stock Exchange.
FRANKFURT, Aug 12 (Reuters) – German consumer goods group
Henkel forecast a tough six months ahead with
political turmoil in Russia, its fourth-largest market, and
volatile exchange rates hurting sales.
Chief Executive Kasper Rorsted said he expected growth in
earnings per share to slow in the second half of 2014 after the
company posted a 3.5 percent decline in second quarter sales.
FRANKFURT (Reuters) – European spacecraft Rosetta became the first ever to catch up with a comet on Wednesday, a landmark stage in a decade-long space mission that scientists hope will help unlock some of the secrets of the solar system.
Rosetta, launched by the European Space Agency (ESA) in 2004, will accompany comet 67P/Churyumov-Gerasimenko on its trip around the sun and land a probe on it later this year in an unprecedented maneuver.
FRANKFURT, Aug 5 (Reuters) – German engineering group
Siemens plans to sell its hospital IT business to
Cerner Corp, a U.S. provider of healthcare IT services,
for $1.3 billion in cash, the two companies said late on
The deal comes as Siemens Chief Executive Joe Kaeser seeks
to focus the group, Germany’s second-biggest company by market
value, on its most promising businesses to close a gap with more
profitable competitors such as Switzerland’s ABB and
U.S.-based General Electric.
FRANKFURT (Reuters) – Siemens AG will need more time to shake off problems at its energy business that have weighed on profits, its chief executive said on Thursday, indicating investors hoping for a fast improvement will have to be patient.
The company reported consensus-missing core profit for its financial third quarter. “There is no quick fix for this (energy business) matter,” CEO Joe Kaeser told analysts and reporters.
FRANKFURT, July 31 (Reuters) – Siemens AG will
need more time to shake off problems at its energy business that
have weighed on profits, its chief executive said on Thursday,
indicating investors hoping for a fast improvement will have to
The company reported consensus-missing core profit for its
financial third quarter. “There is no quick fix for this (energy
business) matter,” CEO Joe Kaeser told analysts and reporters.
FRANKFURT, July 30 (Reuters) – Germany’s Osram Licht AG
expects to cut more jobs in future as customers switch
to new lighting technologies such as LEDs more quickly than
expected, its chief executive said, a day after unveiling plans
for almost 8,000 job losses.
“We always said that the decline of the market for
traditional general lighting will continue. That means that we
will take measures even beyond what we announced,” Wolfgang
Dehen told journalists during a conference call on Wednesday,
adding he could not yet say how many more jobs could go.
HAMBURG/FRANKFURT (Reuters) – Hamburg has told Uber, a U.S. car service whose smartphone app summons rides at the touch of a button, to stop operating in the German city, adding to resistance the company has faced globally from local regulators and taxi drivers.
San Francisco-based Uber Technologies Inc, valued at $18.2 billion in a fundraising last month just four years since its 2010 launch, has touched a raw nerve by threatening to open up a traditionally tightly controlled and licensed market.
FRANKFURT/VIENNA (Reuters) – Talks for Austrian chipmaker AMS (AMS.S: Quote, Profile, Research, Stock Buzz) to buy German peer Dialog Semiconductor (DLGS.DE: Quote, Profile, Research, Stock Buzz) have collapsed, with the two firms blaming differences over price and future strategy.
Dialog and AMS said last month they were in “very preliminary” talks over a deal that could have created a European chipmaker with a market value of about $4.7 billion, and potentially a stronger business to tap the burgeoning market for web-connected devices. AMS makes electronic sensors, which can measure everything from air pollution to the human heartbeat, while Dialog’s chips manage power consumption. Both firms supply chips to Apple (AAPL.O: Quote, Profile, Research, Stock Buzz) for iPhones and iPads.
FRANKFURT, July 17 (Reuters) – German engineering group
Siemens has been preparing an offer to acquire
U.S.-based compressor and turbine maker Dresser-Rand,
German magazine Manager Magazin reported on Thursday, citing
sources close to Siemens.
Siemens has been expanding in the United States and
announced plans to move its energy headquarter there to tap
booming demand for oil and gas equipment, as the U.S. power
industry switches to natural gas from coal.