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Apple to acquire Sony?

Apple to acquire Sony?

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The rumor mill is buzzing about Apple, flush with cash, possibly acquiring Sony. So much so, this rumor caused Sony’s stock to rise by 3% yesterday. At the Pursuitist, we see this strictly as a rumor. And Apple and Sony are too similar — they’re basically duplicate in products and services. We could see a Microsoft or Google acquiring Sony, especially the latter. As Google needs to distribute their content to mobile, TV and other devices — Sony would be a great platform to achieve that reach. Here’s Reuters:

Helping to spark the speculation was a Saturday report in Barron’s that said cash-rich Apple could be contemplating a big acquisition and noted speculation about Adobe, Sony and Disney as potential targets. Sony spokeswoman Sue Tanaka said: “We cannot comment on rumors or speculation.” Sony shares closed up 0.7 percent at 2,742 yen after climbing as high as 2,804 yen. Trading volume was 17.61 million shares, the highest since July 30, the day after the company surprised the market with a quarterly profit and raised its full-year profit outlook.