Midea completes takeover bid for German robot maker KUKA

Midea Group announced it has secured approval for its bid to take over German robotics firm KUKA, offering 115 euros per share, and will complete the deal in early January. Midea will take 94.55 percent of KUKA.

“Midea attaches great importance to Kuka's advantages in products and services, said Fang Hongbo, chairman of Midea, adding that Midea will help Kuka in markets in China and other regions and expand investments.”wautom.com

• 2 sources
• wautom.comChina’s Midea completes takeover bid for German robot maker KUKA – WAUTOM 中国汽车TURBOII030Oct 14, 2017
• roboticsandautomationnews.comMidea embarks on journey to transform itself into a ‘high-tech industry leader’David EdwardsOct 20, 2017

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