Haier gets OIO approval for F and P Appliances takeover, declares bid unconditional

Tue, 30 Oct 2012

Oct. 31 (BusinessDesk) - Chinese whiteware maker Haier has declared its bid for local manufacturer Fisher & Paykel Appliances unconditional after getting Overseas Investment Office approval for the takeover. The OIO sign-off satisfied the last of Haier's conditions, giving it control of the New Zealand company, having secured 62.4 percent acceptances as of yesterday. Haier's bid for at least half of the manufacturer got over the line after it raised its offer to meet the bottom of the independent valuation of between $1.28 and $1.57, satisfy...

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