LDK Solar Takes Comfort In Rumors of Siemens Buyout

Investors of the sorely maligned LDK Solar (LDK) got much needed support Friday from an unlikely corner. According to sources, Siemens (SI) is making a €55/share bid for LDK (80/s U.S.). Siemens is up 1.3 per cent to €95.17 in Germany on the rumor.

LDK is a leading manufacturer of multicrystalline solar wafers, which are the principal raw material used to produce solar cells, devices capable of converting sunlight into electricity. LDK sells multicrystalline wafers globally to manufacturers of photovoltaic products, including solar cells and solar modules.

As always, do your own due diligence. Happy Hunting!

LDK vs. SI 3-mo chart:

Comments

[atlantis2:]

what is the source of this rumour, cannot find it anywhere

2007 Nov 11 12:34 PM

[gwong:]

...Siemens rose 1.3 per cent to ?95.17 as talk swirled that it would make a $55-a-share takeover bid for US solar wafer manufacturer LDK Solar, which needs more capital to fund its expansion, according to analysts.French steel tube maker Vallourec got a lift from...

2007 Nov 12 07:29 PM

[gwong:]

financial times

2007 Nov 12 07:41 PM

[atlantis2:]

what is the source of this rumour, cannot find it anywhere

2007 Nov 11 12:34 PM

[atlantis2:]

what is the source of this rumour, cannot find it anywhere

2007 Nov 11 12:34 PM

[omooc:]

I was in a hospital for several days (discharged yesterday 11/10 afternoon), and was/am out of touch except for the TV. I heard no mention of LDK. So this is a pleasant surprise. omooc

2007 Nov 11 07:05 PM

[gwong:]

Recs: 1 Siemens to make a $55 a share takeover for LDK
This is from FT.com. (Financial Times, the most authoritative
financial news in Europe)

Tele Atlas on right path for bidding war
By Rachel Morarjee
Tuesday Nov 6 2007 15:10
continued from previous page

If a joint bid won approval from regulators, TomTom and Garmin could
leave Tele Atlas as a stand-alone company, but use its maps to build
their navigation businesses, analysts noted.

TomTom shares jumped 6.7 per cent to €56.54.

The broader market snapped a three-day run of losses as resource and
energy stocks attracted buyers. The FTSE Eurofirst 300 index rose 0.3
per cent to 1,554.17.

Denmark's Vestas Wind Systems, the world's biggest wind turbine maker,
surged 15.7 per cent to DKr516 after forecasting a 25 per cent growth
in sales in 2008.

The stock was boosted further by short covering, dealers said.

Vestas said the improved sales forecast was a result of greater
efficiency, higher prices and more activity in the sector.

Shares in Norway's solar power equipment maker Renewable Energy
tracked its Danish peer upwards, rising 4.9 per cent to NKr291.

Both companies have been given a shot in the arm by rising crude
prices, as a consensus builds that more people will turn to
alternative energy sources in the face of escalating oil costs.

Steel stocks got a boost after a rocky two weeks with Germany's
ThyssenKrupp up 1.9 per cent to €43.68 after Deutsche Bank rated it a
"buy" and upgraded its price target from €42.85 to €54.

The brokerage said: "2007 was a great year for ThyssenKrupp and we
have indications that this scenario is likely to repeat in 2008,"
based on rising steel prices coupled with strong demand.

Domestic peer Salzgitter rose 4.3 per cent to €135.55, while Sweden's
SSAB rose 2.5 per cent to SKr203 and ArcelorMittal rose 1.2 per cent
to €52.9.

After a turbulent few days bid rumours were back in circulation.

Germany's Siemens (NYSE:SI) rose 1.3 per cent to €95.17 as talk
swirled that it would make a $55-a-share takeover bid for US solar
wafer manufacturer LDK Solar, which needs more capital to fund its
expansion, according to analysts.

French steel tube maker Vallourec got a lift from lingering rumours
Alisher Us-manov, billionaire Russian metals magnate, was eyeing a
stake in the company, rising 1.8 per cent to €194.03.

2007 Nov 12 07:24 PM