Breaking News, World News and Taiwan News.

Mainland's Haier to make takeover offer for competitor Fisher & Paykel

WELLINGTON, New Zealand -- Chinese home-appliance manufacturer Haier indicates it will make a full takeover offer for New Zealand competitor Fisher & Paykel.

Haier already owns 20 percent of Fisher & Paykel, which also manufactures home appliances including washing machines and dishwashers.

The news announced Monday sent Fisher & Paykel shares up 33 percent to NZ$1 (81 U.S. cents), placing the company's value at NZ$724 million (US$586 million).

Fisher & Paykel said in a statement that Haier plans to make a cash offer which would be at a premium to Fisher & Paykel's share price before the announcement. Haier has yet to make a formal offer.

Write a Comment
CAPTCHA Code Image
Type in image code
Change the code
 Receive China Post promos
 Respond to this email
WSJA
Subscribe  |   Advertise  |   RSS Feed  |   About Us  |   Career  |   Contact Us
Sitemap  |   Top Stories  |   Taiwan  |   China  |   Business  |   Asia  |   World  |   Sports  |   Life  |   Arts & Leisure  |   Health  |   Editorial  |   Commentary
Travel  |   Movies  |   TV Listings  |   Classifieds  |   Bookstore  |   Getting Around  |   Weather  |   Guide Post  |   Student Post  |   English Courses  |   Terms of Use  |   Sitemap
  chinapost search