Nidec, Schaeffler Vie for $1 Billion Asia Component Firm

Nidec Corp., a Japanese supplier to Apple Inc., and Germany’s Schaeffler AG are among bidders competing for Taiwanese components maker Precision Motion Industries Inc., according to people familiar with the matter.

Nidec and Schaeffler are conducting due diligence as they weigh binding offers for the closely held company, the people said, asking not to be identified because the matter is private. The potential sale, which has also attracted buyout firms, could value the Taichung-based firm at more than $1 billion, said the people. No final decisions have been made, and the companies could still decide against pursuing an agreement, the people said.