HTC stock bounces back on news that ASUS has discussed HTC acquisition
Last week’s news regarding a possible ASUS buyout of HTC came after the markets closed on Friday, so it’s not surprising that HTC’s stock price shot up today by 10% (the maximum single-day movement allowed by the Taiwan stock exchange). While ASUS has not made an official offer, HTC is already fighting back by stating that the company will not consider an acquisition offer from ASUS. Unfortunately, there’s not much that HTC can do is ASUS or another player in the market decides on a hostile takeover approach by gaining control of the company simply by purchasing 51% of the company’s outstanding stock by proposing a buyout offer directly to stockholders.
We strongly deny the news. We didn’t contact Asusteck and will not consider the acquisition. As an international brand, HTC will continue to design world-class innovative smart devices through its pursuit of brilliance brand promise. – HTC
Fortunately, HTC’s stock is heading back in the right direction. At least for now.