The hottest Midea officially launched an offer to

2022-07-31
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Midea officially launched a tender offer to acquire KUKA

while the German government is still seeking to protect Qu Jinping's advanced technology in Germany, Mecca, a subsidiary of Midea Group, formally proposed an investment plan of 115 euros per share and 4.5 billion euros to kukaag, a German robot company, on June 16

KUKA spokesman Katrin Stuber Koeppe told Caijing that KUKA's management will assess whether Midea's investment is good for shareholders, employees, customers and the company itself; KUKA management will have 14 days to evaluate and draw conclusions

on June 6, Midea's shareholders' meeting approved the plan to acquire KUKA shares with a total amount of € 115 per share and € 4.5 billion. The two companies started negotiations on May 18. Since then, Midea has expressed its hope to increase its original 13.5% stake in KUKA to at least 30%

the closing price of KUKA on June 15 was 106.05 euros

Fang Hongbo, chairman and President of Midea, pointed out in the statement that the use of advanced technology from countries with rib 1 real hole and Midea's long-term experience and network in the Chinese market will help both sides benefit from the growth of different industries in China. We do not intend to dominate or take KUKA out of the market. He said

as the precision robotic arm manufactured by KUKA is mainly used in BMW, Audi, Tesla cars, and the assembly plant of aircraft manufacturer Boeing, which belongs to advanced German technology, this Chinese merger and acquisition case has aroused the attention of German society. German Chancellor Angela Merkel said at the Hannover business show last year that KUKA is the fixture data required by the German industrial 4 Jinan testing machine Representatives of 0

although China actively hopes to participate in the industrial 4.0 policy promoted by the German government, the German government still has doubts about China's protection of high technology, so the specific cooperation is still in the early stage

since May, Sigmar Gabriel, the German Minister of economy, has been looking for alternatives for KUKA. The negotiation enterprises include ABB Ltd, the company's Swiss rival, Robert Bosch GmbH, the German auto parts supplier, and Siemens. However, Siemens CEO Joe KAESER told the media on the 12th that Siemens is not interested in KUKA. As of Monday (13th), Gabriel's office said that at this time, the alternative scheme of pressing the oil pump start button has not yet been formed

German EU digital economy Commissioner g nther Oettinger recently suggested that other shareholders of KUKA, such as Voith, which holds 25% of the equity, or other European enterprises put forward alternative bids; On the 15th, Wall Street reported that abb, a Swiss competitor of KUKA, was considering whether to put forward a bidding plan

other politicians and businessmen who are worried about the loss of technology put forward the suggestion that the government can restrict this M & A by law. The German foreign trade regulations allow the German government to set conditions attached to investment cases that may affect public order and security, especially non European enterprises that intend to hold 25% or more of German companies

on June 12, Handelsblatt, a German newspaper, first reported that Midea was trying to hold only 49% of KUKA's shares. At the same time, citing German government sources and business insiders, it pointed out that tillreuter, KUKA's executive president, and the government had both said that they could accept the shareholding plan of less than 50%

Midea has actively acquired foreign enterprises since last year. In August, 2015, Midea and Yaskawa electric, a large Japanese robot manufacturer, announced that they would form two robot companies with a total of US $6.5 billion. One company mainly produces industrial robots, 49% of which is held by Midea; Midea holds 60% of the shares of another company that mainly produces robots for service. In march2016, Midea reached an agreement with Toshiba group of Japan to acquire 80.1% of the equity of Toshiba's household appliances business unit for us $473million. Midea also obtained the right to use Toshiba's brand for 40 years

Chinese enterprises' active mergers and acquisitions of European and American enterprises in the past two years have attracted attention. According to Dealogic, an M & A analysis station, Chinese enterprises have invested at least US $3.4 billion in Germany since 2016, far higher than the US $2.6 billion in 2014; In terms of quantity, Chinese capital has tried to acquire at least 20 companies this year, which may exceed 28 in 2014 and 25 in 2015. According to the statistics of Ernst & young, Chinese enterprises invested or acquired 179 European enterprises last year, including 36 in Germany and 34 in the UK

German Chancellor Angela Merkel started her ninth visit to China from December 12 to 15. She was accompanied by several ministers and more than 20 important German entrepreneurs. After her arrival on Sunday, she pointed out that Germany welcomes Chinese investment, but hopes that China will continue to open up and provide the same investment environment for German investment. Chinese Premier Li Keqiang said after the Sino German bilateral talks that Midea is a private enterprise, so the investment case should be handled in accordance with international norms

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