Philips not interested in Bang & Olufsen

Philips not interested in Bang & Olufsen

Philips is allegedly not interested in a Bang & Olufsen acquisition, according to statements from a Philips spokesperson in a Danish financial paper, Borsen.

Multiple offers for Danish company

Over the past three years, Bang & Olufsen slid into an onerous position after it had misjudged the market. It held onto expensive televisions, while Asian manufacturers brought cheaper sets to the market.

 

Bang & Olufsen now wants a buyer to survive and stated last month it had already received multiple offers. Those may eventually lead to an actual bid on parts of the company or the company as a whole.

 

Apparently, Philips is not one of the interested parties, which is not that remarkable as the water between the Dutch and Danish company is relatively deep. The Danish company filed a multi-million dollar claim against Philips as it kept TV component prices artificially high between 1996 and 2006 through deals with LG, Samsung and Panasonic among others. Philips has already been condemned for those practices.

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