After three months of acquisition, the famous Chinese electronics company, Meimei Group, finally ate the German robot company KUKA and became the new owner of the German giant robot company. On the 8th, Midea Group announced that as of August 4, 2016, the additional offer period for this tender offer ended, and the total number of shares of the KUKA Group accepted for this tender offer was 32,233,500 shares, accounting for the KUKA Group. The proportion of issued share capital is approximately 81.04%. In addition, the company has held 13.51% of the shares of KUKA Group before the tender offer, and the final shareholding ratio of the KUKA Group is 94.55%.
始 Acquisition event
In recent years, China's industrial robots have grown exponentially and have become the world's largest consumer of industrial robots, and the demand for industrial robots has increased year by year. As one of the top four companies in the global industrial robot industry, KUKA entered the Chinese market as early as 1986, and has provided industrial robots for leading domestic auto companies such as Dongfeng Motor and Changan Automobile. But overall, KUKA's development in China is not smooth, and it has been seeking unsuccessful investment. The reason is nothing more than internal obstacles and price problems, so that no suitable investors have been found.
Until August 2015, China's home appliance giant Jumei Group purchased 5.4% of KUKA shares for the first time. In February this year, Midea Group increased its shareholding ratio to 10.2%, becoming the second largest shareholder of KUKA. .
In May of this year, Midea Group announced that it intends to acquire the German industrial robot company KUKA at a price of 115 euros per share. However, the deal encountered some unexpected political resistance in Germany. German Economy Minister Sigmar Gabriel expressed his opposition to the acquisition of German companies in China and began to look for European companies to participate in the KUKA Group bid in June. Leave KUKA's control in Europe.
Some local politicians in Germany also hope that KUKA will continue to operate as an independent German brand. In addition, some EU officials stated that KUKA is very important for the digital development of European manufacturing, hoping to retain its key technologies in Europe, and called on KUKA shareholders to refuse to sell the shares to Midea Group.
In addition, KUKA’s management and shareholders have also staged the offer, which some shareholders consider to be a hostile takeover, and the Voith Group, which decided to sell the shares, initially felt The offer is not mature enough and needs to be carefully considered. The company's CEO, TIll, said that Midea can help it expand its market in the Asia Pacific region.
Although it has been verbally opposed by the German government and the original KUKA first shareholder Voith Group objection, but these have not had much impact on the final agreement, the US group finally reached an agreement with KUKA on June 28 this year. The KUKA Group Supervisory Board and the Executive Management Committee recommended the KUKA Group shareholders to accept the tender offer.
In the acquisition conditions, KUKA requires Midea Group to commit to protect KUKA data and maintain its location and job status, while KUKA's industrial intellectual property and its customer and supplier data need to be obtained through agreement. Protected, beautiful can't access or move the database. According to KUKA, the agreement has to be maintained for ten years.
Subsequently, the first acquisition ended on July 16 this year, and Midea obtained 72.18% of the shares of KUKA Group from this round of offers. After that, Midea continued the two-week additional offer period, raising the shares acquired in this round of acquisition to 81.04%. According to the announcement, after the end of the additional offer period, KUKA shareholders will not be able to continue to accept the offer to sell the shares.
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