
Haier bid may be forced higher
Global hedge funds are set to play a pivotal role in Haier's takeover battle for Fisher & Paykel Appliances.
Global hedge funds are set to play a pivotal role in Haier's takeover battle for Fisher & Paykel Appliances.
The battle for control of F & P Appliances took a new turn today when Haier said a share price range put forward by corporate advisers was 'overly optimistic'.
Fisher and Paykel Appliance's independent directors have advised shareholders to reject Haier's takeover offer.
A run of factory closures and redundancies hitting manufacturing firms is the legacy of successive governments' neglect of the sector, says the head of an industry group.
Retail shareholders have the power to block China's Haier from pulling off its full takeover bid for Fisher & Paykel Appliances - which would allow it to remain listed on the NZX.
Shares of Fisher & Paykel Appliances have soared after 20pc shareholder Haier of China indicated it may launch a full takeover.