** BID MANIA **
- STMicroelectronics NV, Europe’s largest maker of computer chips, may be targeted for a takeover, according to traders betting on the creditworthiness of companies in the credit-default swap market. The perceived risk of owning STMicroelectronics’ $1.6
billion of bonds has risen 15 percent in the past week to its h ighest in five months, according to data compiled by Bloomberg.
- Siemens AG management board doesn’t rule out the possibility of a hostile takeover in the light of its relatively low share price, Capital magazine reports Thursday in advance of publication. The magazine cites an internal speech by Juergen Radomski, a member of the corporate executive committee and labor director of Siemens. Radomski says the that the management board needs to improve profitability, achieve the targeted profit margins in individual business divisions by spring 2007 and increase dividends by EUR0.10 per share, to prevent any hostile bids from hedge funds or private equity firms.
Who’s next?