It was announced Friday March 29 that guitar manufacturer Gibson was to buy a majority stake in Japanese company TEAC, which manufactures audio components sold under the TEAC, Tascam, and Esoteric brandnames. From the press release: "Gibson has entered into an agreement, signed today, with Phoenix Capital in which two investment funds operated by Phoenix Capital have agreed to sell to Gibson all the shares they own in TEAC Corporation, or 157,447,000 shares, (54.4% of the issued and outstanding shares), at a price agreed between the parties of 31 JPY per share. . ."
Continue Reading »