Infineon does not consider itself a takeover target
Infineon [IFX:GR], a German semiconductor group, does not consider itself to be a takeover target, Boersen Zeitung reported. In a wide-ranging interview Infineon Chief Executive Reinhard Ploss told the German daily Infineon is not a primary takeover target. Ploss said the groups price/earnings ratio is considered respectable by analysts and it is strong enough and well positioned in its core businesses.
Asked if he is prepared for a hostile bid from China, Ploss said he has communicated very clearly that Infineon intends to remain independent, and that this is very well understood in the market. Chinese investors, who do not normally have a hostile takeover strategy with high-tech companies, understand this, Ploss told the paper. Ploss also noted that the group is active in the security technology segment in Germany, and due to its US activities, the US authorities would also have a say in any takeover.
Infineon has a market cap of EUR 26.20bn.