(Bloomberg) -- Peter Loescher, less than a month
into his job as Siemens AG's chief executive officer, handed
investors two of the German engineering company's biggest deals
and a 6 percent stock plunge in the same day.
The stock lost the most in more than four years yesterday
after Siemens agreed to buy Dade Behring Holdings Inc. for $7
billion, 38 percent more than the U.S. medical-scanner maker's
market value the day before. Siemens also agreed to sell its VDO
automotive unit to Continental AG for 11.4 billion euros ($15.7
billion). To top it off, he presented earnings that disappointed
investors.
Read more at Bloomberg Stocks News
into his job as Siemens AG's chief executive officer, handed
investors two of the German engineering company's biggest deals
and a 6 percent stock plunge in the same day.
The stock lost the most in more than four years yesterday
after Siemens agreed to buy Dade Behring Holdings Inc. for $7
billion, 38 percent more than the U.S. medical-scanner maker's
market value the day before. Siemens also agreed to sell its VDO
automotive unit to Continental AG for 11.4 billion euros ($15.7
billion). To top it off, he presented earnings that disappointed
investors.
Read more at Bloomberg Stocks News
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