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)
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.
Mar. 6, 2012, 6:55 PM
Dec. 27, 2011, 8:48 AM
The Chinese government asserts Western Digital's (WDC) planned purchase of Hitachi's (HIT) hard drive division will "exert a negative impact on Chinese consumers," and says it will seek "appropriate solutions" to deal with the issue. Chinese regulators already drove a hard bargain with Seagate (STX) over its purchase of Samsung's hard drive unit. (EU approval)| Dec. 27, 2011, 8:48 AM | 1 Comment
Nov. 23, 2011, 9:27 AM
Western Digital (WDC) gains 0.8% after its acquisition of Hitachi's (HIT) hard drive business is given a green light by EU regulators. In return for the go-ahead, Western Digital has agreed to sell a hard drive manufacturing plant and other "essential production assets." Archrival Seagate's (STX) purchase of Samsung's hard drive division was cleared in October. (yesterday)| Nov. 23, 2011, 9:27 AM | 1 Comment
Sep. 8, 2011, 7:59 AM
Hitachi (HIT) is acquiring networked storage vendor BlueArc for an undisclosed sum. BlueArc, which had re-filed for an IPO in June, sells high-performance systems frequently used in "big data" applications. The deal could help Hitachi offset a fraying OEM partnership with H-P (HPQ), and might increase competitive pressures for NetApp (NTAP).| Sep. 8, 2011, 7:59 AM
Aug. 31, 2011, 8:25 AM
Aug. 5, 2011, 8:23 AM
Talks between Hitachi (HIT) and Mitsubishi Heavy (MHVYF.PK) about a tie-up are reportedly in danger of collapsing, as Hitachi wants a full merger while Mitsubishi prefers to combine selected businesses. A total merger would create an infrastructure company with revs of $150B a year. (previous)| Aug. 5, 2011, 8:23 AM
Aug. 4, 2011, 7:56 AM
Sources say Hitachi (HIT -4.8%) and Mitsubishi Heavy (MHVYF.PK) are discussing merging some of their ops despite officials denying the talks even after Hitachi's president said on TV a deal was in the works. The negotiations almost stalled following the media reports of the discussions. (previous)| Aug. 4, 2011, 7:56 AM
Aug. 3, 2011, 3:53 PM
Jun. 30, 2011, 8:27 AM
Hitachi (HIT) will take part in talks with Sony (SNE) and Toshiba (TOSBF.PK) to merge their small-size LCD panel businesses. Consolidation in the intensely price-competitive LCD panel market could be good news for other players, such as AU Optronics (AUO) and LG Display (LPL).| Jun. 30, 2011, 8:27 AM
Jun. 29, 2011, 9:14 PM
May 31, 2011, 4:35 AM
EU regulators are investigating two proposed mega-mergers in the hard disk drive [HDD] sector, concerned about the impact on competition. The deals involved are Seagate's (STX) $1.4B bid to buy Samsung's (SSNLF.PK) HDD unit, and Western Digital's (WDC) $4.3B bid to buy Hitachi's (HIT) HDD unit.| May 31, 2011, 4:35 AM | 1 Comment