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This article was published on May 13, 2012

German TV maker Loewe denies Apple acquisition rumour, says report has “absolutely nothing to it”

German TV maker Loewe denies Apple acquisition rumour, says report has “absolutely nothing to it”
Matt Brian
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Matt Brian

Matt is the former News Editor for The Next Web. You can follow him on Twitter, subscribe to his updates on Facebook and catch up with him Matt is the former News Editor for The Next Web. You can follow him on Twitter, subscribe to his updates on Facebook and catch up with him on Google+.

Following an AppleInsider report that hit last night stating that Apple was in talks to acquire the company, German TV maker Loewe has today officially denied rumours of a $113 million buyout, with a company spokesperson stating that the report has “absolutely nothing to it.”

Loewe contacted German website Heise, responding to speculation that suggested Apple had entered negotiations with the premium television manufacturer, tabling a €87.3 million (around $113 million) bid. However, the deal had reportedly yet to be agreed.

The German electronics firm was also said to have been “advised by its financial advisor to accept the offer” and a final decision was “scheduled to be announced internally before 18 May 2012.”

One of Loewe’s major shareholders is Sharp, a company that is said to be supplying panels for Apple’s new television sets. The company was established in 1923, has around 1,000 employees and is regarded for its stunning flat-screen televisions.

The purchase of a Loewe would have all but confirmed Apple’s intent to introduce new televisions, bringing aboard employees of a company that has manufactured sets for over 75 years.