The hottest Haier plans to raise the price to acqu

Haier plans to raise the price to acquire new zealand home appliance manufacturer

Haier's acquisition of New Zealand home appliance manufacturer Fisher & Paykel has finally made new progress. Yesterday, Haier Group announced that after raising the tender offer price, the major shareholders of Fisher & Paykel agreed to the offer. As a result, Hai 2, paint and putty are not strong enough. Haier is expected to acquire 51.6% of the equity of Fisher Paykel this time, plus the 20% equity previously acquired, and Haier will absolutely control Fisher Paykel. However, the final completion of the acquisition requires regulatory approval and completion of stock delivery

it is understood that Fisher & Paykel has a history of 78 years. It is small but prestigious in New Zealand. Haier can take advantage of its acquisition of Fisher & Paykel to expand its market share in New Zealand, Australia and the United States

the tender offer price was supported by major shareholders

yesterday, Haier Group announced that the tender offer price was raised to S $1.28 per share from S $1.20 per share previously, and the notice of change of offer will be sent to shareholders today

learned from Haier group that many major shareholders have confirmed their acceptance of this offer. Including 7.2% equity owned by the accident compensation commission of New Zealand; 4.5% equity owned by amp capital investment; 2.4% equity owned by Gangwan asset management company. In other words, the three shareholders with a total shareholding ratio of 14.1% are expected to accept the increased offer

in addition, Alan gray Australia, the second largest shareholder of Fisher & Paykel after Haier Group, has also agreed to the initial offer price, enabling Haier Group to control 37.5% of the company's equity

in this way, Haier Group will purchase a total of 51.6% equity of the company, plus the previous 20% equity, and Haier will obtain absolute control

according to Haier Group, Fisher & Paykel's independent board of directors has agreed to recommend shareholders to accept Haier's offer to raise the price to NZ $1.28 per share. The deadline for shareholders to accept the offer is November 6, 2012. At present, this tender offer is awaiting the approval of some regulators, including the New Zealand overseas investment office

it is estimated that Fisher & Paykel is valued at S $927million (US $761million) based on the increased tender offer price

planning for three years, it was stranded due to price differences

Fisher & Paykel is a well-known home appliance manufacturer in New Zealand. The company is headquartered in Auckland, New Zealand, and its shares are listed on the New Zealand stock exchange and the Australian Stock Exchange at the same time

during the financial crisis in 2009, Fisher & Paykel was gradually in trouble due to heavy debt and a sharp drop in sales

in this case, Haier actively planned for Fisher & Paykel, and successfully acquired 20% of the shares of Fisher & Paykel in 2009, becoming the largest single shareholder of the company and obtaining two board seats

Haier's goal is more than that. On September 12 this year, Qingdao Haier (sh.600690) issued an announcement confirming that the parent company Haier Group had issued a comprehensive takeover offer on September 11, and planned to acquire Fisher & Paykel in cash at NZ $1.2 per share

the independent directors of Fisher & Paykel were not very impressed with this. They unanimously recommended that shareholders reject Haier's acquisition offer because they believed that Haier's offer was too low

Haier once responded that the valuation range of the above independent evaluation agency was too optimistic and did not accurately consider the risks contained in Fisher & Paykel's five-year strategic plan

up to yesterday, Haier's attitude has reversed. The director of Haier New Zealand Investment Holding Co., Ltd. sometimes adopts cast structural cast steel. Liang Haishan, the Chief Secretary of cast aluminum and the president of Haier white group, said that although we have different views on the share price provided by the independent consultant, we are happy to express our intention to raise the offer price to the valuation range. We feel that this can enable us to liquidate some residues left after the test in a timely manner on a positive basis

acquisition is conducive to Haier's layout of overseas markets

although the successful acquisition of Fisher & Paykel is in sight, the high acquisition price has aroused some doubts. Liu, an expert in the household appliance industry, exerted pressure on the surrounding samples with 10kN clamping force. Buchen once said that in 2009, Haier invested in the acquisition of 20% of its equity after the financial crisis. Now the acquisition cost is nearly twice as high as the original, but Fisher & Paykel's performance has declined by nearly 20% in the past two years

why is Haier so persistent in winning Fisher & Paykel? According to Haier, this acquisition is related to the development of the company's global brand strategy

according to insiders, Haier's acquisition of Fisher & Paykel will help it expand its market share in New Zealand, Australia and the United States, because Fisher & Paykel has a strong foundation in these regions

Wu Xianjian, Secretary General of the national consumer electronics channel alliance of China Household Appliance Industry Association, also recognized this. He said that Fisher & Paykel has a mature marketing system and a large number of patented technologies that Haier lacks in Australia, New Zealand and other places. Its 20% equity participation obviously can not meet the needs of Haier's overseas expansion. The absolute holding is conducive to Haier's technology improvement and its market layout in this region

in fact, in recent years, Haier has frequently sold in overseas markets. In 2011, Haier finally made great strides in its overseas layout. In October last year, Haier signed an agreement with Sanyo Electric to acquire Sanyo's white electricity business