By Reuters Staff
1 Min Read
FILE PHOTO: A logo of Hitachi Ltd. is pictured at the CEATEC JAPAN 2017 (Combined Exhibition of Advanced Technologies) at the Makuhari Messe in Chiba, Japan, October 2, 2017. REUTERS/Toru Hanai
TOKYO (Reuters) - Japanese industrial conglomerate Hitachi Ltd picked a group led by Bain Capital as the preferential bidder for its metals unit in a deal likely to top 800 billion yen ($7.3 billion), Nikkei reported on Thursday.
Bain, Japan Industrial Partners and Japan Industrial Solutions are considering buying a 53% stake in Hitachi Metals, the financial daily said.
Hitachi Metals recently announced it was buying U.S. software company GlobalLogic for $9.6 billion. But in recent years it has also been divesting domestic hardware assets, including chemical and imaging businesses, aiming to pivot to services instead.
by Tyler Durden
Thursday, Apr 08, 2021 - 07:50 AM
European stocks hit a new record highs on Thursday, buoyed by optimism in Britain over easing lockdown restrictions, while the benign outlook on US interest rates revealed in the latest FOMC Minutes where the Fed indicated it will maintain its commitment to supportive policy, helped push S&P futures to new all time highs after the cash index closed at a record on Wednesday. Treasury yields dropped, the dollar slipped and crude oil fell as the pandemic worsened in key regions just as OPEC+ prepares to add supply over the coming months.
At 7:30 a.m. EDT, Dow E-minis were flat, S&P 500 stock futures up 13.75 points or 0.34% and Nasdaq 100 E-minis were up 122 points, or 0.89%. The S&P 500 and the Dow ended a choppy session near record highs on Wednesday, while the tech-heavy Nasdaq is still more than 3% below its February all-time high.
Hitachi weighing sale of metal unit to Bain Capital-led group Sorry, but your browser needs Javascript to use this site. If you re not sure how to activate it, please refer to this site: https://www.enable-javascript.com/
Hitachi is seeking to sell its over 50% stake in Hitachi Metals as the firm has been streamlining its business portfolios to focus on growth areas such as digitalization. | BLOOMBERG
Kyodo Apr 8, 2021
Industrial conglomerate Hitachi Ltd. has decided to advance talks with a consortium led by U.S. private equity fund Bain Capital to sell its subsidiary Hitachi Metals Ltd., sources familiar with the matter said Thursday.
Hitachi Cable America Inc., Performance Cable Systems & Materials Division appoints Tom Artinian as Chief Operating Officer
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Hitachi Cable America Inc. (HCA), a leading manufacturer of Premise, Fiber Optic, and Specialty cables is pleased to announce the promotion of Tom Artinian as the Chief Operating Officer (COO) of the Performance Cable Systems and Materials Division of HCA effective April 1, 2021. .Tom has excelled in the collaborative development and communication of HCA-NH’s objectives, expectations, and internal strategy, while establishing great relationships with many of our customers.” - Lynne Humenik, President and CEO Hitachi Cable America MANCHESTER, N.H. (PRWEB) April 05, 2021
Hitachi to acquire U.S. software firm GlobalLogic for $9.6 billion Sorry, but your browser needs Javascript to use this site. If you re not sure how to activate it, please refer to this site: https://www.enable-javascript.com/
Hitachi Ltd. CEO Toshiaki Higashihara speaks during an online news conference on Wednesday. | HITACHI LTD. / VIA KYODO
Kyodo, Bloomberg Apr 1, 2021
Hitachi Ltd. said Wednesday it will fully acquire U.S. software engineering firm GlobalLogic Inc. for $9.6 billion (about ¥1 trillion) to boost its information technology business in overseas markets.
With the deal, the Japanese industrial conglomerate is aiming to globally accelerate digitalization in its railway, energy, health care and other businesses. It plans to complete the acquisition of the California-based firm by the end of July pending regulatory approval.