B&O Investors Just Got a Fleeting Taste of Takeover Euphoria
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For about an hour, Bang & Olufsen A/S shareholders thought salvation was in sight.
The possibility of a takeover, based on vague comments by the chairman of the maker of luxury TVs and sound systems, drove the stock 15% higher on Friday morning. Then the balloon popped and investors were thrown back to the reality of losses that have erased half the Danish company’s value this year. Even B&O’s chief executive has made clear he thinks the performance has been so bad he doesn’t want a bonus.