Reported this morning from various primarily Indian sources is that Daewoo is up for grabs and Videocon is favourite contender to emerge thus far to potentially acquire the South Korean consumer goods giant Daewoo Electronics with a bid of $650 million.
What makes this interesting is the other bidders who are currently believed to be Haier, LG Electronics and Whirlpool PLC. The final bids by the various contenders have been submitted for daewoo Electronics that was put on the block by its lenders earlier this year.
The Videocon bid is believed to be the highest as told by the sources familiar with the development, but the company authorities denied to make any comments.
No comment has been forthcoming from the other bidders either.