NEC spurned private equity offers before selling discounted stake in iPhone supplier, sources say | Reuters News Agency

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DealsTechnology

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.

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

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