Reuters exclusively reported that Japan’s NEC received multiple buyout offers from global private equity funds for iPhone supplier Japan Aviation Electronics Industry before agreeing to sell back much of its 51% stake to the Japanese company at a discount, according to five people.
DealsTechnology
NEC spurned private equity offers before selling discounted stake in iPhone supplier, sources say
14 February 2024, 10:15 pm 1 minute
Market Impact
Shares of JAE jumped after Reuters reported the buyout offers, finishing up 14.7% on Wednesday. Shares of NEC closed up 0.6%.
Article Tags
Topics of Interest: DealsTechnology
Type: Reuters Best
Sectors: Business & FinanceTechnology
Regions: Asia
Countries: Japan
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Significant National Story
