Kuka / Midea
Final result of the takeover bid
On August 8, Midea announced the final result of the voluntary public takeover offer of its subsidiary Mecca International (BVI) for the Augsburg-based robotics company Kuka.
Midea, one of the world's leading manufacturers of household appliances as well as heating, ventilation and air conditioning systems, has announced that 81.04% of all shares in Kuka AG were tendered for sale at the end of the additional acceptance period of the voluntary public takeover offer. Together with the 13.51% stake in Kuka shares already indirectly held by Midea prior to the submission of the takeover offer, the Chinese investor would now hold a total of 94.55% of Kuka's issued share capital and existing voting rights.
With the expiry of the further acceptance period, no additional Kuka shares can now be tendered in the takeover offer. The offer is still subject to regulatory approvals.
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