Latest Apple Acquisition
Mystery Man
NEW YORK, May 23 (New York Times) - Apple Computer Ltd. On Thursday said it
had made an off-market scrip and cash bid for U.S.-based Kia Motors America.
Kia, founded in 1944 as a manufacturer of steel tubing and bicycle parts
quickly evolved into the manufacture of motorcycles and trucks. Kia Motors
America's parent company, Kia Motor Corps. of Seoul, South Korea, stated
that the offer valued Kia Motors America stock at $6216.29 KRW (South Korean
Won) a unit or 6.21 billion KRW.
A Thursday press conference held by Fred Anderson, CFO of Apple Computers
Ltd., stated that Apple intends to merge its thriving computer industry with
the promising automobile company. Apple bought a strategic 8.4 percent stake
in the company last week, paying $5762.91 KRW a unit.
The resulting product will marketed under the name "I-kia".
© 2003 New York Times
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