the company provides shareholders 115 euros per share, significantly more than Kuka papers had last tasted on the stock exchange. The Chinese have it in for the know-how of the German manufacturer in the automation of production.
Midea contrast provides better access to the growing Chinese market. The complete control will not Midea claims to but do not assume, it said on Wednesday.
Kuka is not averse
Kuka responded not averse. Management and Supervisory Board want to consider the offer carefully, as the company announced on Wednesday. “We consider it an open-ended, but in principle the proposal fits with our strategy,” said a spokeswoman Kuka.
A recommendation will manage but only proposed if in four to eight weeks vorliege the actual listing of Midea. Before that Midea has cleared, you still legal issues.
Even Greater Focus
Kuka has China as a major growth market for robotics and automation technologies already in view and is expanding its presence there. Turnover in the market is to a billion euros more than double by 2020. ‘/ P>
In this respect the Augsburgers the offer from Asia comes probably quite right, also to bring the Chinese also have a certain financial strength, with the Kuka its goals can accomplish more in terms of “industry 4.0″. But there are conditions for Kuka. For example, that the company headquarters in Augsburg remains and that nothing will change for employees – previously Midea promises this in his benchmark paper
shares of Kuka jumped in view of the offer in the height: more than a third to 114.40 euros went on Wednesday temporarily upward. And, although the shares already long climb from one record to another. “The offer is incredibly high,” said one trader. For the price the shareholders the offer could hardly refuse. A counter-offer from another investor could not be expected
4,6 billion euros
The German company Voith -. 25.1 percent the largest single shareholder in Kuka – did not even initially position. Voith will monitor further developments, it said in a statement. The company was “very satisfied” with the development of portfolio since its acquisition in November 2014
With that afforded by Midea price of 115 Euro which is listed in the MDAX company with almost 4.6 billion euros rated.. The offer represents a premium of According Midea represents almost 60 percent to the price of the beginning of February before Midea increased its Kuka share to over 10 percent. The Chinese were boarded last August.
Currently holds Midea 13.5 percent of the shares. Midea wants to secure the bid at least 30 percent of the shares – at the minimum acceptance rate, the offer is subject
Kuka is independent and on the stock market remain
stressed in a communication, the Chinese company. on Wednesday, Kuka should remain independent and is listed in Germany in the stock market. Midea would not conclude a domination agreement. A complete takeover is excluded, said a Midea spokesman.
The leadership of Kuka should remain the plans to change. Join the conversation will Midea future but already. The Chinese want to join the supervisory board
China faces the Robot Revolution
“Kuka is in excellent shape and we want to continue in the workforce , the brand, intellectual property and production facilities to invest to accelerate the company’s growth, “stated Midea boss Paul Fang. China offers great growth potential. To date, some car plants in China are on average with significantly fewer robots than in the US and Europe.
This may change in the light slowly rising labor costs but. In an aging society and service robots could be used more frequently. Midea offers in the Chinese market sales network, contacts with suppliers and decision-makers.
German engineering in view of the Chinese
The German engineering is already longer the focus of Chinese companies or investors. In the spring about the conglomerate Shanghai Electric Group climbed the engineering firm Manz. The special machine manufacturer KraussMaffei was acquired in January by ChemChina, the largest chemical company in China. This currently provides for 43 billion US dollars for the Swiss agrochemicals group Syngenta