Kuka will not see bid arranged by German Economy Minister - Boersen-Zeitung
Kuka, the German robotics company, will not see a takeover bid arranged by German Economy Minister Sigmar Gabriel, Boersen-Zeitung reported.
The German-language daily cited a ministry spokesperson as saying that the minister is not organizing an alternative bidding consortium. The spokesperson said the German government will hold back from actively intervening in the business matter of the takeover bid for Kuka from Chinese electronics maker Midea.
The report said Midea is seeking to boost its stake in Kuka from 13.5% to 30%. It noted that in recent days, Gabriel expressed the wish that there were an alternative bid, in order to give shareholders a choice of whom to sell to, and even said efforts are under way to formulate such an alternative.
Boersen-Zeitung