February 12, 2007 – At least three private equity groups have approached Infineon Technologies AG in the past six months, and despite management’s views against a deal bidders remain hopeful for success by year’s end, according to a report in the Financial Times and cited by MarketWatch. However, Infineon execs contacted by Bloomberg claimed to not know anything about such offers, explaining that “talks had taken place some time ago, but not recently.”
Potential bidders may include CVC Capital Partners, Kohlberg Kravis Roberts & Co., Permira Advisers LLP, and Silver Lake Partners, according to the paper noted. Suitors may consider a hostile takeover offer later in the year if management still opposes a sale, the paper added.
Any deal for the German chipmaker, which has a market capitalization of about eight billion euros (US $10.4 billion), would be the largest private equity deal ever in Germany, the FT noted, citing “a person familiar with the situation.”