Investors of the sorely maligned LDK Solar (NYSE: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: