Haier offers $1.20 for Fisher & Paykel shares

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Haier offers $1.20 for F&P shares

3News NZ

Fisher & Paykel shares were selling for 75c prior to the takeover bid

Fisher & Paykel shares were selling for 75c prior to the takeover bid

It has not taken long for the Chinese company Haier to make a formal bid for all the shares of Fisher & Paykel Appliances.

The offer is $1.20 per share, and Haier already has one key shareholder on side.

It is a big premium compared to the 75c shares were selling for before news of the takeover broke, but the company is still likely to face a struggle in obtaining the balance of shares.

Watch the video for the wrap on Firstline by Michael Wilson

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Comments

9/10/2012 8:59:02 a.m.

Pamela Pope wrote:

I for one will no longer feel any loyalty to F and P and will not be purchasing. I am sick of NZ being sold off, the Fisher and Paykel name will be devalued, what a shame.

12/09/2012 10:29:32 a.m.

Canterbury Shareholder wrote:

This offer has the distinct odour of opportunism surrounding it. Haier are effectively saying that the long term shareholders have financed the company through the bad times without reward and now that better times are ahead they are going to gain control with a much reduced risk and be the winners.F&P has been in the doldrums for several years and thos shareholders who invested 4 to 5 years ago will be losers in a very big way.I for one will not be supporting this takeover as there is little doubt NZ investors are again being taken advantage of.