Bang & Olufsen open to bidders
Upscal Danish HI-FI manufacturer Bang & Olufsen said it would consider any takeover approaches it received following a profit warning last month. Bang & Olufsen saw its shares fall to their lowest level since the middle of 2009 after it issued the profit warning on December 22.
“If someone knocks on our door, we will of course listen to what they have to say,” Chairman Ole Andersen told Reuters on Monday. “We are not blind to the bigger Asian players, who have size advantages and much lower cost levels, which are some of our main problems,” he added.