Midea makes bid for robotics maker Kuka official

DW.com:  Chinese appliance firm Midea has announced it has launched a cash offer for a stake of 30 percent in German industrial robotics supplier Kuka. The takeover bid has stoked controversy in Germany and Europe.

Midea said on Thursday it would offer 115 euros ($130) per share to Kuka owners under efforts to become the biggest single shareholder in one of the world's leading manufacturers of industrial robots.

The Chinese appliance maker, which is so far only known to be producing washing machines and air conditioners, also said its offer would end July 15, with no ceiling on the percentage of shares it was aiming to buy.  Kuka shares closed at just above 106 euros in trading at the Frankfurt Stock Exchange on Wednesday. The stock gained about 26 percent since the deal was first proposed in May.  Cont'd...

Comments (0)

This post does not have any comments. Be the first to leave a comment below.


Post A Comment

You must be logged in before you can post a comment. Login now.

Featured Product

Get RFQs on Die Casting, Stamping, and Extrusion With Xometry, Your Source for Custom Parts

Get RFQs on Die Casting, Stamping, and Extrusion With Xometry, Your Source for Custom Parts

Xometry is your source for custom parts. Now, in addition to getting instant quotes on 3D Printing, CNC Machining, Sheet Metal, and Injection Molding, customers can create and send RFQs for die casting, stamping, and extrusion work to our nationwide network of pre-vetted manufacturers with just a 2D drawing. You will receive and be able to review responses from qualified shops within 7 days on an advanced web-based RFQ management platform. To learn more go directly to our site to issue and RFQ today. Stop wasting time managing RFQs through email and by phone, and start issuing RFQs at scale and in the cloud.