Skip to main content
Tuesday, November 10, 2026Nov 10
Subscribe
All Sections
Search
More

China’s Midea tries to calm fears on bid for Germany’s Kuka

FILE - In this Dec. 2, 2015 file photo, Germany's Kuka Robotics Co.'s robot LBR iiwa demonstrates a flower arrangement at the International Robot exhibition in Tokyo. Chinese appliance maker Midea has promised that German industrial robot maker Kuka will remain independent, as it seeks to allay fears about its takeover bid for the company. Midea’s chairman said Thursday, June 16, 2016 that it doesn’t intend to “dominate Kuka or delist the business” as it released more details about the share offer announced last month. (AP Photo/Shizuo Kambayashi, File)
FILE - In this Dec. 2, 2015 file photo, Germany's Kuka Robotics Co.'s robot LBR iiwa demonstrates a flower arrangement at the International Robot exhibition in Tokyo. Chinese appliance maker Midea has promised that German industrial robot maker Kuka will remain independent, as it seeks to allay fears about its takeover bid for the company. Midea’s chairman said Thursday, June 16, 2016 that it doesn’t intend to “dominate Kuka or delist the business” as it released more details about the share offer announced last month. (AP Photo/Shizuo Kambayashi, File) FILE - In this Dec. 2, 2015 file photo, Germany's Kuka Robotics Co.'s robot LBR iiwa demonstrates a flower arrangement at the International Robot exhibition in Tokyo. Chinese appliance maker Midea has promised that German industrial robot maker Kuka will remain independent, as it seeks to allay fears about its takeover bid for the company. Midea’s chairman said Thursday, June 16, 2016 that it doesn’t intend to “dominate Kuka or delist the business” as it released more details about the share offer announced last month. (AP Photo/Shizuo Kambayashi, File)

By Associated Press 2 min read

HONG KONG (AP) – Chinese appliance maker Midea promised Thursday that German industrial robot maker Kuka will remain independent, seeking to allay fears about its takeover bid for the company.

In a document outlining the share offer announced last month, Midea said it “fully supports” Kuka’s operational independence and current strategy.

The Chinese company already owns 13.5 percent of Kuka shares and is offering to buy the rest, as required under German law. It wants to raise its stake to at least 30 percent, making it the largest shareholder, and is offering 115 euros for each share, valuing Kuka at 4.6 billion euros ($5.2 billion).

The company last traded at 109 euros a share.

“We want to support Kuka’s growth and plan to jointly realize the vast growth potential in China,” Chairman Paul Fang said in a statement. “We do not aim to dominate Kuka or delist the business.”