Toshiba Shares Rise on Winning Westinghouse Bid

[Tesha]

http://www.bloomberg.com/apps/news?pid=10000102&sid=aVvrVELO59.M&refer=uk

Toshiba Plant Shares Rise on Winning Westinghouse Bid

Jan. 23 (Bloomberg) -- Toshiba Plant Systems & Services Corp.
shares rose 7.2 percent, the biggest gain in seven weeks, on
reports that the designer of nuclear power plants had won
Westinghouse Electric Co. with a $5 billion bid.

The stock gained 53 yen to 794 yen today in Tokyo, after
earlier touching a nine-year high. Toshiba is the likely
winner of Westinghouse after presenting the highest offer
this weekend, according to a person with knowledge of the
bids. The Financial Times and New York Times earlier
reported Toshiba had won.

<snip>

Toshiba's offer beat competing bids from General Electric
Co. of Fairfield, Connecticut, and Tokyo-based Mitsubishi
Heavy Industries Ltd., said the person, who couldn't be
identified because the board has yet to vote on the matter.

<more>

[Tesha]

1. And the hollowing-out of America continues... (NT)

[DODI]

4. Westinghouse has been owned by the British for about

5 years. America was hollowed out a long time ago.

[Tesha]

5. I wonder what George Westinghouse would think about all this? (NT)

[Tesha]

2. Nobody cares, ehh? Just another historic American company gone away. (NT)

[psychopomp]

3. Westinghouse made the radar that detected the Pearl Harbor invasion

The Defense division of Westinghouse was sold to Northrop Gruman in 1996, though.

/snip
"The Northrop Grumman Electronic Systems Division is based in Linthicum, Md. Its presence dates from 1938, when the Westinghouse Electric Corp. moved its Radio Division from Massachusetts and Pittsburgh. In 1939, Westinghouse doubled production in Baltimore to work on the SCR-270 aircraft warning radar system. The system is credited with detecting the Japanese attack on Pearl Harbor.

At 7:02 a.m. on Dec. 7, 1941, two Army privates manning the radar system informed their superiors of a huge blip on the radar screen, but their superiors told them not to worry about it, Northrop Grumman said. The Japanese air attack on Pearl Harbor started 53 minutes later."
http://www.bizjournals.com/industries/manufacturing/general/2006/01/16/pittsburgh_story8.html

[NewJeffCT]

6. the scary thing is the US has no say in the matter

It's the sale of a British company to a Japanese company.

Kind of scary when Westinghouse has made almost all the nuke reactors in the US.