Robohub.org
 

Midea now owns 85.69% of KUKA’s shares

by
21 July 2016



share this:
Image source: KUKA Aktiengesellschaft

Image source: KUKA Aktiengesellschaft

Since the announcement of the month-long tender offer by Midea to buy 49% of the shares of German robot maker KUKA AG – and private negotiations – Midea now has 85.69% of the shares.

The offer was predicated on KUKA AG having a market value of $5.2 billion, a 58% premium over the share price on the day before the announcement. At that point, Midea already owned 13.51%.

To help that offer, KUKA and Midea negotiated an agreement whereby KUKA got assurances that jobs and plants in Germany will be protected until the end of 2023 and Midea agreed not to pursue a domination agreement or de-listing of KUKA’s shares. As a result, KUKA’s management endorsed the arrangement and their two biggest shareholders tendered their shares to Midea. The public tender, plus the two big shareholders, gave Midea 72.18% of the shares. Combined with what they already owned, Midea now has 85.69% ownership of KUKA.

On July 21, through August 3, Midea announced another tender offer – with the same valuation and share price – to acquire as many more of the shares as possible.

Bloomberg reported that:

“From Midea’s point of view, the more the better. If Midea can get total control it would be greatly beneficial for their plans to expand Kuka’s business in China,” said Juliette Liu, an analyst at Yuanta Securities Co.

“We have reached an important milestone in the expansion of our partnership with Kuka, which offers great value-creation potential for both companies. The investor agreement between Kuka and Midea sets out the future cooperation in detail. We want to help Kuka to grow and expand the business, especially in China,” said Paul Fang, chairman and chief executive officer of Midea.

Bottom Line:

made-in-china-2025_300_200_80China’s government has sponsored aggressive 5-year plans to make the robotics industry in China one in which domestic companies provide the majority of robots and to change the overall status of manufacturing in China by 2025 to be high tech and high quality instead of low price and labor intensive. At present, in most cases, and particularly regarding robotics, the reverse is the case. Thus this acquisition by Midea of one of the Big Four of global robot manufacturers goes a long way toward bringing high tech and high quality in robotics to China by a now-Chinese-owned highly-thought-of robot manufacturer.



tags: , ,


Frank Tobe is the owner and publisher of The Robot Report, and is also a panel member for Robohub's Robotics by Invitation series.
Frank Tobe is the owner and publisher of The Robot Report, and is also a panel member for Robohub's Robotics by Invitation series.





Related posts :



ep.

340

podcast

NVIDIA and ROS Teaming Up To Accelerate Robotics Development, with Amit Goel

Amit Goel, Director of Product Management for Autonomous Machines at NVIDIA, discusses the new collaboration between Open Robotics and NVIDIA. The collaboration will dramatically improve the way ROS and NVIDIA's line of products such as Isaac SIM and the Jetson line of embedded boards operate together.
23 October 2021, by

One giant leap for the mini cheetah

A new control system, demonstrated using MIT’s robotic mini cheetah, enables four-legged robots to jump across uneven terrain in real-time.
23 October 2021, by

Robotics Today latest talks – Raia Hadsell (DeepMind), Koushil Sreenath (UC Berkeley) and Antonio Bicchi (Istituto Italiano di Tecnologia)

Robotics Today held three more online talks since we published the one from Amanda Prorok (Learning to Communicate in Multi-Agent Systems). In this post we bring you the last talks that Robotics Today...
21 October 2021, by and

Sense Think Act Pocast: Erik Schluntz

In this episode, Audrow Nash interviews Erik Schluntz, co-founder and CTO of Cobalt Robotics, which makes a security guard robot. Erik speaks about how their robot handles elevators, how they have hum...
19 October 2021, by and

A robot that finds lost items

Researchers at MIT have created RFusion, a robotic arm with a camera and radio frequency (RF) antenna attached to its gripper, that fuses signals from the antenna with visual input from the camera to locate and retrieve an item, even if the item is buried under a pile and completely out of view.
18 October 2021, by

Robohub gets a fresh look

If you visited Robohub this week, you may have spotted a big change: how this blog looks now! On Tuesday (coinciding with Ada Lovelace Day and our ‘50 women in robotics that you need to know about‘ by chance), Robohub got a massive modernisation on its look by our technical director Ioannis K. Erripis and his team.
17 October 2021, by





©2021 - ROBOTS Association


 












©2021 - ROBOTS Association