Japan’s TDK to buy Germany’s Epcos

Japan’s TDK Corp plans to buy German electronic parts manufacturer Epcos for up to $1.9bn, in a move to expand sales of industrial-use parts and cope with fierce price competition, reports Reuters. TDK will launch a friendly tender offer for Frankfurt-listed Epcos and make it a subsidiary as early as autumn, said a source close to the deal. The bid is likely to cost Y150bn-Y200bn ($1.4bn-$1.9bn), he said, adding that TDK was set to make a formal announcement, as well as to report Q1 earnings, later Thursday. Analysts said the deal would be a “positive move” for TDK.