Back in September German copy machine maker Triumph-Adler AG caught
employees at one of its biggest units scheming to set up their own
company to lure away customers. The scandal was soon eclipsed by the
global financial crisis, and the news that Germany, along with the euro-zone economies, was in a recession.
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On Tuesday Triumph-Adler shareholders won a reprieve when Japan's Kyocera Corp. unveiled a €73.7 million ($92.8 million) offer for the 70% of the company it doesn't already own. The stock traded €0.97 higher in Tuesday afternoon Frankfurt trade at €1.69, valuing the group at €94.2 million.
Like other Japanese technology companies, Kyocera looks to bulk up to better compete against its Chinese and Sotuh Korean rivals. TDK Corp. is working to complete a €1.4 billion acquisition of chipmaker Epcos AG, and Fujitsu Ltd. recently announced a €450 million acquisition of Siemens AG's half of the Fujitsu Siemens Computers (Holding) BV venture. -
Barbara Rudolph
