Pursuits
Bang & Olufsen Soars After Initial Takeover Approaches
- Shares rise as much as 34% as electronics maker starts talks
- Danish stereo maker's market value is about $455 million
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Bang & Olufsen A/S, the Danish maker of high-end televisions and audio components, said it was approached about a possible takeover, giving a boost to its struggling shares.
The 90-year-old company has received “certain initial approaches” about a potential offer, Struer, Denmark-based Bang & Olufsen said in a statement Thursday. It is checking to see how firm the interest is. The stock surged as much as 34 percent.