Kontron Stock Slides As Foxconn-Backed Ennoconn Edges Toward €1.5 Billion Takeover Move
Kontron shares fell Thursday after Ennoconn, its largest shareholder, signaled a possible mandatory takeover bid at €23.50 per share, just under 2% above Wednesday’s close. First-quarter revenue dropped 5.6% to €363.7 million, and net profit fell to €14 million. Kontron plans to cut 500 jobs in its Greentec division by August, targeting over €30 million in annual savings.