Author Topic: Onkyo  (Read 405 times)

Offline Boxerfan88

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Onkyo
« on: October 05, 2019, 08:06 »
https://asia.nikkei.com/Business/Business-deals/Onkyo-pulls-plug-on-sale-of-audio-business-to-US-peer


OSAKA -- Struggling Japanese audio equipment maker Onkyo is no longer in talks to sell its flagship home audiovisual business to American company Sound United, the company said on Friday.

The Osaka-based company was looking to unload the unit, which includes home speakers and accounts for 70% of group sales, for $75 million as part of its turnaround effort. But it was unable to meet the necessary conditions for the deal, such as securing committed financing.

The two sides "have mutually agreed to terminate the transfer based on the determination that a closing cannot be achieved by November 30, 2019, the expiration date of the agreement," Onkyo said in a statement.


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Offline AndrewC

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Re: Onkyo
« Reply #1 on: October 05, 2019, 14:53 »
I hope they survive...  :)
You'll never get to heaven with a smile on your face from me.

Offline wcseow

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Re: Onkyo
« Reply #2 on: October 05, 2019, 16:48 »