Wed, Aug. 3, 8:36 AM
Mon, Jul. 4, 5:30 AM| Mon, Jul. 4, 5:30 AM | 1 Comment
Thu, Jun. 16, 8:16 AM
- China's Midea Group has made a formal offer for Kuka (OTCPK:KUKAY) in face of criticism by some of the robot maker's investors and German politicians.
- The €115 a share price represents a significant premium to Kuka's latest closing price of €106.05 and trading levels before news of the possible tie-up first emerged. Terms of the $5B offer include a minimum acceptance rate of 30%.
- Midea has also reiterated its intent for Kuka to retain its independence.
Mon, Jun. 13, 8:11 AM
- Siemens (OTCPK:SIEGY) has no interest in becoming a white knight for German robot maker Kuka (OTCPK:KUKAY), which is the target of a €4.5B takeover bid by Chinese home appliance maker Midea.
- "If we had been interested, we would have acted on it some time ago," CEO Joe Kaeser told n-tv in an interview.
- Midea's bid has fanned a furious debate over Chinese takeovers in Europe, with some politicians calling for tougher restrictions.