Turn off the Ad Banner  

To print: Select File and then Print from your browser's menu.

    -----------------------------------------------
This story was printed from CdrInfo.com,
located at http://www.cdrinfo.com.
-----------------------------------------------

Appeared on: Friday, July 29, 2005
BenQ Shareholders Approve Siemens Mobile Acquistion

BenQ shareholders voted Thursday in favor of a plan for the Taiwanese electronics maker to take over Siemens AG's mobile phone division, bringing the two companies one step closer to a deal.

Siemens shareholders are slated to vote Thursday as well. A "no" vote by Siemens stockholders would block the transaction.

The two companies struck a deal last month for BenQ to take over Siemens' loss-making handset division and try to turn it around.

The German electronics giant will also purchase a $50 million stake in BenQ to solidify the deal. BenQ said Thursday that it would sell US$150 million worth of shares later this year in the form of global depositary receipts as part of the arrangement.


Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2014 - All rights reserved -
Privacy policy - Contact Us .