French PABX manufacturer Barphone SA, which holds 25% of the French market for PABXs of less than 25 ports, has said it is close to being taken over by an un-named foreign industrial group. Managing director Michel Apchin confirmed takeover rumours, saying We have been in negotiations for the last few weeks with a group that is not French. If the accord is brought to fruition, it will mean a takeover by this foreigner, he said. Among the names circulated as possible buyers are Northern Telecom Ltd (which already holds a share in Matra Communication SA), and Robert Bosch GmbH. According to La Tribune, the buyer is offering between $28 and $30 a share. Barphone – currently controlled 62% by the Apchin family and 28% by institutional investors – reported 1992 revenues equivalent to $63.6m and a net profit of $3.3m. In the first quarter of 1993, however, the company saw consolidated sales drop 14%. It’s not the first time Barphone has been a takeover target. Dassault Electronique SA tried to buy a a years ago but Apchin was not ready says La Tribune. Even if I never said it clearly, it was always written that Barphone would one day or another throw itself in with a powerful group he declared.
