F and P Appliances halted pending announcement

Wed, 17 Oct 2012

Oct. 18 (BusinessDesk) - Fisher & Paykel Appliances shares have been halted pending an announcement after an independent evaluation deemed the takeover offer from 20 percent owner Haier of China was too low. Shares of the Auckland-based manufacturer of fridges, stoves and dishwashers last traded at $1.235, above Haier’s $1.20-s-share offer for the rest of the company. The stock has soared 239 percent this year, mostly on the back of Haier’s proposal, which was well above the trading price at the time. The independent valuation report put the...

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