2 Nov 2012

Haier offer for Fisher and Paykel Appliances set

7:19 am on 2 November 2012

Chinese firm Haier won't lift its $1.28 per share price for Fisher Paykel Appliances.

Haier has increased its stake in the New Zealand whiteware company to 66.65% after increasing its offer by 7% from $1.28 last month.

Haier has now formally declared its offer unconditional and it needs 90% before it can compulsorily acquire the remaining stock.

Earlier this week it cleared its final regulatory hurdle, receiving approval from the Overseas Investment Office for the purchase of Fisher Paykel Appliances.

Shareholders have until Tuesday next week to decide whether to accept the offer or not.

Shares in Fisher Paykel Appliances closed at $1.275 each on Thursday.