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Steinway in play
Steinway Musical Instruments, best known for its pianos, has attracted takeover interest from China, according to Bloomberg.
The business, controlled by US hedge fund billionaire John Paulson, is reportedly the target of China Poly Corp. Other bidders are also circling, the news agency says.
Steinway, whose piano arm was founded in 1853 by German immigrant Henry Engelhard Steinway in a Manhattan loft, also makes trumpets, saxophones and trombones.
The Paulson & Co hedge fund bought the business in 2013 for $512m.
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