Benq fights off hostile takeover

[Alpine]

Builds cash pile, Hon Hai in the frame

A REPORT said giant Taiwanese firm Benq is building a cash mountain to prevent a hostile takeover.


The Taiwan Economic News said that Benq, which came originally from the Acer stable, is raising a third of a billion dollars to stave off corporate raiders.

The newspaper claims that Benq has denied press reports it will team with Hon Hai (Foxconn). But other press reports claim Hon Hai wants to buy a majority share in Benq so it can control LCD flat panel maker AU Optronics.

AUO is under Benq's wing. Benq was doing just fine and dandy but bought SIemens' mobile phone unit which it is finding difficult to digest.

The INQuirer