Siemens May Sell Off More Businesses
Siemens is looking to divest additional businesses, Financial Times Deutschland has reported. CEO Peter Loescher raised the possibility at a supervisory board meeting last week, the newspaper quoted board sources as saying, adding that he is expected to outline details to analysts and institutional investors in the coming days.
Siemens Outperforms, Conti Rumored to be Upping Bid; Siemens to Begin Accepting Offers by this Weekend
Shares in Siemens AG outperformed with traders pointing to news reports and market rumors that on the one hand, Blackstone has teamed up with TRW and made a $16.5 billion bid for Siemens’ VDO automotive unit, while on the other hand Continental is rumored to be preparing to increase to its own offer for the unit to $20 billion. Dealers were cautious about the Continental rumor however, and pointed out that this may well be too high a price to pay for the Siemens division.
Siemens CEO Kleinfeld Says Preparation for Automotive IPO ‘On Schedule’
Siemens AG Chief Executive Klaus Kleinfeld said the company’s preparations for an initial public offering (IPO) of its VDO Automotive unit were progressing "on schedule." "This is a very attractive business, not only for us, but also for others," Kleinfeld said at a press conference in Munich. Siemens in January said it wanted to list a minority stake in the business, but it did not state an exact date for the IPO, which is expected to take place this calendar year.
The Week in Review (March 19-23, 2007)
By Amy Antenora Editor The Week in Review offers a snapshot of the most read stories of the week as seen on aftermarketNews. To access the complete stories, simply click on the highlighted links. If you missed reading one of our daily news emails, click on any of the dates listed at the bottom of
The Week In Review (Aug. 21-25, 2006)
THE WEEK IN REVIEW (August 21-25, 2006) _______________________________________________________________________________________________________ _______________________________________________________________________________________________________ ASSOCIATION & LEGISLATIVE NEWS: _______________________________________________________________________________________________________ _______________________________________________________________________________________________________ ASA to Communicate with Members through New Blog The Automotive Service Association (ASA) is among the latest in the aftermarket industry to launch a blog website. ASA’s new blog (http://blog.asashop.org) will provide commentary and analysis about the automotive service industry