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https://www.wsj.com/articles/SB10001424052970204349404578101793819992784
Haier Obtains More Than 90% of Fisher & Paykel Shares
By Rebecca Howard
Nov. 5, 2012 11:01 pm ET
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WELLINGTON—Haier New Zealand Investment Holding Co., a subsidiary of Chinese appliance maker Haier Group, has obtained more than 90% of the shares of Fisher & Paykel Appliances Holdings Ltd., a move that will trigger the compulsory acquisition of the remainder under New Zealand's Takeovers Code.
Haier initially launched its bid for Fisher & Paykel Appliances in September. It then increased its offer price to 1.28 New Zealand dollars (US$1.06) a share from NZ$1.20, valuing Fisher & Paykel Appliances at about NZ$927 million. The revised offer was unanimously recommended by Fisher & Paykel's independent directors and closed Tuesday.