Haier bid for F and P Appliances too low for AMP Capital

Mon, 15 Oct 2012

By Paul McBeth Oct. 15 (BusinessDesk) -Chinese manufacturer Haier's bid to take control of whiteware maker Fisher & Paykel Appliances is too low and it wants to be paid full value for its stake, according to a local fund manager. AMP Capital Investors (New Zealand) portfolio manager Douglas Lau says the fund manager wants full value for its 5.4 percent stake in F&P Appliances, and that Haier's $1.20-a-share offer is too low. Lau wouldn't comment on what AMP Capital sees as fair value, as that's currently up for negotiation, but the independe...

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