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Germany: Is Apple buying Loewe for making Smart TVs.?
Shares in German luxury TV maker Loewe jumped to a 10-month high today on market talk of a potential offer from Apple.
Web log AppleInsider cited a source familiar with the matter as saying Apple was willing to pay €87.3 million (S$141 million), or a 48 per cent premium on Loewe's closing price on Friday of €4.5390 per share.
According to Australian publication Smarthouse, AppleInsider's unnamed source claimed Loewe "has been advised by its financial advisor to accept the offer and a final decision is scheduled to be announced internally before May 18".
A spokesman for Loewe said that management at the moment has no indication or information that Apple wants to participate in Loewe. Apple declined to comment.
A German trader said such a deal could make sense. "Look at Loewe's design. That is a big 'yes', I would say."
"The only problem is Loewe makes its TVs in Germany," he added.
Loewe, founded in 1923 in Berlin, offers high-end home entertainment sets and has a market capitalisation of €59.1 million, according to Thomson Reuters data.
The company already offers apps for the iPad to remotely operate their home entertainment sets. (see first picture above)
The news has fuelled talk that Apple is moving into the TV market with its Apple TV, in part driven by Apple founder Steve Jobs' posthumous biography, where his biographer Walter Isaacson recorded Jobs saying "I finally cracked it" with respect to a new model of television.