Daily Management Review

Chinese Company Midea Extends A Takeover Offer Of 76.38% Stakes To Kuka Robotics Firm Of Germany


07/15/2016


A takeover offer of stakes comes with a limited life span.



The “Midea Group Co Ltd” of China reported that on Thursday at “1600 GMT”, its takeover proposal of “Germany's Kuka” for “4.5 billion euro” has received “acceptances”, whereby Kuka’s “holding” in the robotics firm will also get boost of “76.38 percent”.

Kuka is a “German robotics firm”, which filed in Shenzhen saying its shareholders had shown consent for “25.01 million shares” as a reply to Midea’s offer, which means that almost “62.88 percent of the issued share capital” are in favour. The offer came from Midea in the month of May.

Midea already owns “13.51 percent stake” of Kuka, whereby with the additional offer, the former would be holding an entire “76.38 percent of Kuka”. However, the takeover deal comes with an expiry date of “at 2200 GMT on Friday”. Moreover, Reuters also reported that:
“Midea shares jumped 9.3 percent to hit a record high at 29.57 yuan in Shenzhen earlier on Friday before trimming gains to close at 28.65 yuan, up 6 percent”.






References:
http://www.reuters.com/ 







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