Midea reaches 86 percent stake in Kuka in takeover offer
Reuters
Published Jul 20, 2016 04:25AM ET
Updated Jul 20, 2016 04:40AM ET
Midea reaches 86 percent stake in Kuka in takeover offer
FRANKFURT (Reuters) - China's Midea Group Co Ltd said it obtained 85.7 percent of shares in German industrial robot maker Kuka in its 4.5 billion euros takeover bid, which expired on Friday.
The Chinese home appliance maker said in a filing on Wednesday that Kuka shareholders had tendered 72.2 percent of shares, and it held 13.5 percent already.
An extended offer period will run until Aug. 3, it said.
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Written By: Reuters
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