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Haier’s Increased Offer Wins Fisher & Paykel

 

The Haier Group of China, one of the world’s biggest manufacturers of household appliances, succeeded on Thursday in its bid to acquire Fisher & Paykel Appliances with an improved offer of 927 million New Zealand dollars ($762 million).

Haier’s new offer of 1.28 New Zealand dollars a share was enough to convince Fisher & Paykel’s board to endorse the deal after it rejected Haier’s bid of 1.20 dollars a share last month.

Read more: http://dealbook.nytimes.com/2012/10/18/haiers-increased-offer-wins-fisher-paykel/