Hitachi Ltd. ADROTCPK - Current
Tue, Nov. 1, 3:15 PM
- Brocade Communications (NASDAQ:BRCD) has made another sharp move up, now +7.1%, on a report that it's near a deal to be acquired by Broadcom (AVGO -1.5%).
- The news comes a day after its deal-chatter-fueled 22% rise.
- The deal could be announced later this week, Reuters reports.
- RBC Capital has upgraded shares to Outperform and raised its price target to $14, making room for 29% more upside from the new level set. As with others, RBC is pointing to Broadcom (NASDAQ:AVGO) chief Hock Tan as a very interested party.
- “We think that Brocade makes sense as a strategic asset to the right operator or CEO (Hock Tan as a solid operator), which would lead to mid-single-digit accretion for the acquirer (35%+ operating margin potential),” writes Mitch Steves.
- If Broadcom can achieve $200M in opex synergies in a deal, it's $0.65 accretive to the acquirer, Steves says. And he also points to other potential buyers, including IBM, Oracle and Hitachi (OTCPK:HTHIY).
Fri, Oct. 28, 9:27 AM
Thu, Sep. 29, 8:01 AM
- Hitachi (OTCPK:HTHIY), Toshiba (OTCPK:TOSYY) and Mitsubishi Heavy Industries (OTCPK:MHVYF) are in talks to combine their nuclear fuel operations, as the outlook for restarts of reactors following the Fukushima nuclear crisis remains bleak.
- The three Japanese conglomerates aim to merge the operations as early as spring 2017, sources told Reuters.
Thu, Aug. 18, 9:06 AM
- BWX Technologies' (NYSE:BWXT) subsidiary, BWXT Canada, has agreed to acquire all of the shares of the GE Hitachi Nuclear Energy Canada joint venture.
- The acquisition roughly doubles BWXT's footprint in Canada and signals a long-term strategic commitment to the attractive CANDU nuclear power segment and the attendant growth opportunities related to plant life extensions.
- While terms of the transaction are not being disclosed, it is expected to be accretive within the first year and to favorably impact margins in the Nuclear Energy Segment.
Fri, Jul. 29, 9:25 AM
- Hitachi (OTCPK:HTHIY): FQ1 EPS of $0.11 misses by $0.19.
- Revenue of $20.7B (+8.5% Y/Y) beats by $990M.
Fri, May 13, 8:56 AM
- Hitachi (OTCPK:HTHIY): FY16 EPS of $0.32.
- Revenue of $88.8B (+2.7% Y/Y).
Feb. 24, 2015, 10:00 AM
- Further expanding its transportation business overseas, Hitachi (OTCPK:HTHIY -1.7%) has agreed to pay $1B for two units from Finmeccanica (OTCPK:FINMY -2.7%), which is looking to concentrate on its core aerospace and defense businesses.
- Hitachi will pay €773M ($876.1M) for Finmeccanica’s 40% stake in rail signaling operator Ansaldo and €36M for its unprofitable train manufacturer AnsaldoBreda.
- Following the closing of the deal, Hitachi will launch a mandatory tender offer on Ansaldo’s publicly traded shares, potentially boosting its total payout to as much as $2.5B.
- Previously: Hitachi confirms bid for Finmeccanica train-making, signal assets (Dec. 17 2014)
Jan. 12, 2015, 6:50 AM| Jan. 12, 2015, 6:50 AM
Dec. 17, 2014, 11:05 AM
- A Hitachi (OTCPK:HTHIY) exec has confirmed a company bid for Finmeccanica's (OTCPK:FINMY) train-making unit AnsaldoBreda and a 40% stake in its rail signaling company Ansdaldo.
- Chief Operating Officer Toshiaki Higashihara declined to comment on the bid price, but the Nikkei previously reported that the offer was likely worth around $1.7B.
- Finmeccanica said on Tuesday it had received an offer from Insigma for AnsaldoBreda.
Dec. 16, 2014, 10:24 AM
Sep. 2, 2014, 3:03 AM
- The European trade body in China has dismissed reports stating Beijing was planning to require foreign auto parts suppliers in the country to form local joint ventures.
- The rumors surfaced as Chinese regulators cracked down on the country's auto industry, seeking to enforce a 2008 antitrust law.
- Last month, China issued $201M in fines against 12 Japanese companies for manipulating prices, while many foreign automakers have lowered their spare parts prices to appease local regulators.
- Related Stocks: OTCQX:VLKAY, OTCPK:FIATY, OTCPK:DDAIY, TTM, TM, HMC, OTCPK:NSANY, OTCPK:HTHIY, OTCPK:SSUMY, OTCPK:MIELY, OTCPK:JTEKY, OTCPK:DNZOY
Aug. 20, 2014, 3:10 AM
- China's anti-monopoly regulator has issued fines against 12 Japanese companies for colluding over prices of auto parts and bearings.
- The penalties total 1.2B yuan ($201.8M) and fine companies including Hitachi (OTCPK:HTHIY), Sumitomo (OTCPK:SSUMY), Mitsubishi Electric (OTCPK:MIELY), Jtekt (OTCPK:JTEKY) and Denso (OTCPK:DNZOY).
- China has been increasing its efforts to bring companies into compliance with an anti-monopoly law enacted in 2008, and has recently taken aim at the country's auto sector.
Aug. 15, 2014, 2:35 PM
- Canada's Bombardier (OTCQX:BDRBF, OTC:BOMBF) and Japan's Hitachi (OTCPK:HTHIY) are the two frontrunners to buy the cash-strapped rail subsidiaries of italy's Finmeccanica (OTCPK:FINMF), Reuters reports.
- Finmeccanica has been trying to sell its cash-strapped train division together with its profitable rail signals business for three years to help reduce net debts of €4.8B ($6.4B).
- Bombardier is said to be well-placed to win because it already works with the AnsaldoBreda train division in the development, production and sale of the new Frecciarossa 1000 train.
Jun. 13, 2014, 7:44 AM
- GE Vice Chairman John Rice has stated that General Electric (GE) will pursue its bid over Alstom (ALSMY) alone. The statement comes after Siemens (SIEGY) announced it would partner up with Mitsubishi (MHVYF) and possibly Hitachi (HTHIY) for a joint bid over the French energy business.
- “We don’t think we need a partner in the context of our bid,” says Rice. “We feel really good about the way the process is working, and interactions that we had with the government.”
- GE has put in a $17B bid for Alstom.
Jun. 12, 2014, 3:20 AM
- Hitachi (HTHIY) is said to be in talks in joining Siemens' (SIEGY) bid on Alstom's (ALSMY) energy business, the Nikkei business daily reports. The account comes after yesterday's announcement of Mitsubishi (MHVYF) coming on as a partner to Siemens' bid.
- Siemens is looking to ramp up its effort to out do General Electric's (GE) $17B offer.
Nov. 1, 2013, 11:31 AM
- Hitachi (HTHIY) is selling 10.87M of the 25M Western Digital (WDC -0.7%) shares it received as part of its compensation for the latter's purchase of the former's hard drive unit. (PR)
- The shares are being sold through a secondary offering that has been priced at $67 (3% below WDC's current trading price), and features a 1.63M-share underwriter option.