Reuters: Global Markets: Shares in F&P Appliances jump after Haier takeover offer

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Shares in F&P Appliances jump after Haier takeover offer Sep 11th 2012, 22:12 WELLINGTON | Tue Sep 11, 2012 6:12pm EDT WELLINGTON (Reuters) - Shares in Fisher and Paykel Appliances FPA.NZ jumped to their highest in nearly four years on Wednesday after China's Haier Group offered NZ$869 million ($710.36 million) to buy New Zealand's biggest appliance maker. F&P Appliance shares rallied 12.5 percent to NZ$1.170 in early trade, hitting their highest since October 2008 Haier Group, which is the parent of Qingdao Haier Co Ltd (600690.SS) and Haier Electronics Group Co Ltd (1169.HK), said late on Tuesday it had offered to pay NZ$1.20 a share in cash for a full takeover of F&P, of which it already owns 20 percent.

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