Deals wrap: Hon Hai and the LCD crown

December 27, 2010

A shopper looks at an Apple Inc iPad at an electronic shop in Tokyo December 27, 2010. Taiwan's Hon Hai Precision Industry Co will buy a majority stake in a Hitachi Ltd display unit for about $1.2 billion, making it the world's top ranked maker of small and medium sized LCDs, the Nikkei newspaper said on Monday. The venture, Hitachi Displays Ltd, will use the funds to build a factory in Japan that will supply Hon Hai, one of the biggest manufacturers of Apple Inc's iPhone and iPad, the newspaper said. REUTERS/Issei KatoA spokesman for Taiwan’s Hon Hai said he had not heard about a deal reported by the Nikkei newspaper that would see the manufacturer of Apple’s iPhone and iPad become the world’s top-ranked maker of small and medium sized LCDs in a majority stake, $1.2 billion buy of a Hitachi display unit.

Spanish construction group ACS has moved closer to control of German bid target Hochtief.

After a year in which most U.S. IPOs clocked in at less than $200 million, investors can expect a larger slate of billion-plus offerings in 2011, writes WSJ’s Lynn Cowan.

The NYT’s Stephen J. Lubben writes a less obvious reason for the decline in Chapter 11 filings may hinge on changes in the capital structures of distressed firms.

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