F&P shares rise above Haier takeover offer
The shares closed at $1.205 last night, up 1 cent, on turnover of 956,000 shares.
Shares in Fisher & Paykel Appliances (NZX: FPA) rose above Chinese whiteware giant Haier's $1.20 bid yesterday.
The shares closed at $1.205 last night, up 1 cent, on turnover of 956,000 shares, just above Haier's offer price revealed on September 11.
The stock started the year at 36 cents.
The Chinese state-owned company bought a 20% stake in F&P in 2009 and has a lock-up agreement for a further 17.5% of the company with Allan Gray, an Australian fund manager.
Haier says it will de-list F&P if it reaches the 90% compulsory acquisition mark.
Haier's offer closes on November 6.
David Williams
Wed, 03 Oct 2012
Wed, 03 Oct 2012
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F&P shares rise above Haier takeover offer
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