HONG KONG • Nidec Corp, a Japanese supplier to Apple Inc, and Germany’s Schaeffler AG are among bidders competing for Taiwanese components maker Precision Motion Industries Inc (PMI), according to people familiar with the matter.
Nidec and Schaeffler are conducting due diligence as they weigh binding offers for the closely held company, the people said, asking not to be identified because the matter is private. The potential sale, which has also attracted buyout firms, could value the Taichung- based firm at more than US$1 billion (RM4.16 billion), said the people.
A deal for PMI, whose components are used in semiconductor manufacturing, could be reached in the next few weeks, said the people. Any sale would add to the US$4.7 billion of announced acquisitions of Taiwanese companies this year, compared to US$5.7 billion during the same period in 2017, according to data compiled by Bloomberg.
No final decisions have been made, and the companies could still decide against pursuing an agreement, the people said. Representatives for Schaeffler and Nidec declined to comment. PMI declined to comment.
PMI is working with a financial advisor as it pursues a deal, people familiar with the mat ter said last month.
Founded in 1990, the company makes ball screws and other components used in precision machinery for plastics injection, semiconductor manufacturing and metal shaping, its website shows.
Nidec agreed this year to buy refrigeration compressor maker Embraco for US$1.08 billion.