Haier Makes Bid to Acquire Fisher & Paykel Sep 11, 2012

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Fisher & Paykel Appliances Holdings Ltd. announced was approached by Haier expressing interest in making a takeover offer for the company.

F&P, on September 10, 2012, received a notice from Haier's New Zealand holding company notice that it intends to make a full takeover offer for all of the ordinary shares in F&P not already held by Haier. Haier is offering NZ$1.20 per share in cash.

F&P's Board of Directors - excluding two directors associated with Haier has recommended that F&P shareholders take no action until the full details of the board's assessment of the offer.

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