Infineon: We’d Like to Roll In Intel’s Money a Bit Before We Spend It
What’s Infineon (IFX) planning to do with the proceeds from the sale of its wireless unit to Intel?
Nothing! Well, nothing yet, anyway.
CEO Peter Bauer says the company has no plans to blow $1.4 billion in Intel (INTC) money on acquisitions simply to increase its size. “I expect there’ll be a lot of speculation about us making acquisitions now,” Bauer said yesterday. “But there’s nothing in the pipeline. We are under no pressure to make acquisitions just because we have a lot of cash.”
As for speculation that the newly cash-rich Infineon could become a takeover target, well, Bauer doesn’t see that happening anytime soon. “I don’t think that someone would come to us and attempt a hostile takeover just because we have a lot of money,” he said.