31 Oct 2012

Haier offer now unconditional

12:09 pm on 31 October 2012

Haier has received consent of the Overseas Investment Office to proceed with its offer to acquire all shares in Fisher & Paykel Appliances Holdings.

The consent is the final regulatory approval required for the transaction to proceed.

Haier has now formally declared its offer unconditional.

Shareholders have until 5 pm on 6 November to accept the offer, unless it is extended.

Haier has about 62.4% of the appliance maker, for which its offering $1.28 per share.

It needs 90% before it can compulsorily acquire the remaining stock.