Shares in TV maker Loewe jump on Apple bid talk

Reuters News
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Posted: May 14, 2012 3:49 PM
Shares in TV maker Loewe jump on Apple bid talk

FRANKFURT (Reuters) - Shares in German luxury TV maker Loewe jumped 24 percent on Monday on market talk of a potential offer from Apple.

Web blog AppleInsider cited a person familiar with the matter as saying Apple was willing to pay 87,3 million euros ($113 million), or a 48 percent premium on Loewe's closing price on Friday of 4.5390 euros.

Both Apple and Loewe could not immediately be reached for comment.

Loewe has a market capitalization of 59.1 million euros, according to Thomson Reuters data. ($1 = 0.7726 euros)

(Reporting by Harro ten Wolde)