Tag - Takeover
Sharp has confirmed it has accepted a deal to be taken over by Foxconn, with the agreement said to be valued at approximately 700 billion yen ($6.2 billion). The purchase announcement may have been premature, as a report claims Foxconn, a major manufacturing partner for Apple, is delaying the final takeover agreement after receiving a list of "contingent liabilities" from Sharp that is worth half the deal's value.
Video game developer Capcom may be left vulnerable to a stock buyout after shareholders failed to meet a majority number of votes to renew a takeover defense this week. Capcom first issued the takeover defense in 2008 to combat large-scale share purchases to gain a voice within the company. It was indicated that the company was looking to issue a renewal when it posted the 25-page plan in May.
Comcast is reportedly mulling a potential takeover bid for competitor Time Warner Cable, unnamed sources have told CNBC. Although Time Warner Cable is said to be considering various buyers, the company is claimed to favor a merger with Comcast if it finalizes the decision to sell.
On Monday, the Netflix board of directors instituted an anti-takeover plan designed to prevent investor and corporate raider Carl Icahn from growing his 10 percent stake in the company. Under the plan, Netflix stock owners will be allowed to acquire more stock if any investor acquires more than 10 percent of the company. The plan is designed to flood the market with shares and reduce the value of the stock making it too expensive for any individual investor to acquire enough stock to take control of the company.
Best Buy founder and ex-CEO Richard Shulze and at least four private equity firms have started reviewing the financial data of the beleaguered chain in the first steps toward would could wind up being a $11 billion buyout, according to people familiar with the matter. Schulze is negotiating with the equity firms to determine how much of his 20 percent stake in the company he would have to shell out in a bit and what role he would fill after the takeover.
Following the disclosure of HP's plan to acquire Palm, the struggling company's CEO, Jon Rubinstein, commended employees for their hard work and reminded the team to remain focused on existing goals, according to a company-wide e-mail posted on the Wall Street Journal. The CEO framed the move as a "huge step forward" in accelerating Palm's transformation strategy.
More questions were brought up about the sale of Yahoo at the Sun Valley conference being held this week in Idaho, says the New York Times. A table in a bar filled with the likes of Google co-founder Larry Page, Yahoo President Sue Decker, Legg Mason Capital Management's Bill Miller -- who is one of Yahoo's largest shareholders -- and former Yahoo chief Terry Semel has the media, investors and analysts speculating about the type of conversation taking place.
Now AAPL Stock: 112.12 ( + 1.09 )
Cirrus creates Lightning-headphone dev kit
Apple supplier Cirrus Logic has introduced a MFi-compliant new development kit for companies interested in using Cirrus' chips to create Lightning-based headphones, which -- regardless of whether rumors about Apple dropping the analog headphone jack in its iPhone this fall -- can offer advantages to music-loving iOS device users. The kit mentions some of the advantages of an all-digital headset or headphone connector, including higher-bitrate support, a more customizable experience, and support for power and data transfer into headphone hardware. Several companies already make Lightning headphones, and Apple has supported the concept since June 2014. http://bit.ly/29giiZj
Apple Store app offers Procreate Pocket
The Apple Store app for iPhone, which periodically rewards users with free app gifts, is now offering the iPhone "Pocket" version of drawing app Procreate for those who have the free Apple Store app until July 28. Users who have redeemed the offer by navigating to the "Stores" tab of the app and swiping past the "iPhone Upgrade Program" banner to the "Procreate" banner have noted that only the limited Pocket (iPhone) version of the app is available free, even if the Apple Store app is installed and the offer redeemed on an iPad. The Pocket version currently sells for $3 on the iOS App Store. [32.4MB]
Porsche adds CarPlay to 2017 Panamera
Porsche has added a fifth model of vehicle to its CarPlay-supported lineup, announcing that the 2017 Panamera -- which will arrive in the US in January -- will include Apple's infotainment technology, and be seen on a giant 12.3-inch touchscreen as part of an all-new Porsche Communication Management system. The luxury sedan starts at $99,900 for the 4S model, and scales up to the Panamera Turbo, which sells for $146,900. Other vehicles that currently support CarPlay include the 2016 911 and the 2017 models of Macan, 718 Boxster, and 718 Cayman. The company did not mention support for Google's corresponding Android Auto in its announcement. http://bit.ly/295ZQ94
Apple employees testing wheelchair features
New features included in the forthcoming watchOS 3 are being tested by Apple retail store employees, including a new activity-tracking feature that has been designed with wheelchair users in mind. The move is slightly unusual in that, while retail employees have previously been used to test pre-release versions of OS X and iOS, this marks the first time they've been included in the otherwise developer-only watchOS betas. The company is said to have gone to great lengths to modify the activity tracker for wheelchair users, including changing the "time to stand" notification to "time to roll" and including two wheelchair-centric workout apps. http://bit.ly/2955JDa
SanDisk reveals two 256GB microSDXC cards
SanDisk has introduced two 256GB microSDXC cards. Arriving in August for $150, the Ultra microSDXC UHS-I Premium Edition card offers transfer speeds of up to 95MB/s for reading data. The Extreme microSDXC UHS-I card can read at a fast 100MB/s and write at up to 90MB/s, and will be shipping sometime in the fourth quarter for $200. http://bit.ly/294Q1If
Apple's third-quarter results due July 26
Apple has advised it will be issuing its third-quarter results on July 26, with a conference call to answer investor and analyst queries about the earnings set to take place later that day. The stream of the call will go live at 2pm PT (5pm ET) via Apple's investor site, with the results themselves expected to be released roughly 30 minutes before the call commences. Apple's guidance for the quarter put revenue at between $41 billion and $43 billion. http://apple.co/1oi1Pbm
Twitter stickers slowly roll out to users
Twitter has introduced "stickers," allowing users to add extra graphical elements to their photos before uploading them to the micro-blogging service. A library of hundreds of accessories, props, and emoji will be available to use as stickers, which can be resized, rotated, and placed anywhere on the photograph. Images with stickers will also become searchable with viewers able to select a sticker to see how others use the same graphic in their own posts. Twitter advises stickers will be rolling out to users over the next few weeks, and will work on both the mobile apps and through the browser. http://bit.ly/29bbwUE