July 20, 2016 / 8:27 AM / a year ago

Midea reaches 86 percent stake in Kuka in takeover offer

FRANKFURT (Reuters) - China’s Midea Group Co Ltd said it obtained 85.7 percent of shares in German industrial robot maker Kuka in its 4.5 billion euros takeover bid, which expired on Friday.

A robot arm of German industrial robot maker Kuka is pictured at the company's stand during the Hannover Fair in Hanover, Germany, April 25, 2016. REUTERS/Wolfgang Rattay

The Chinese home appliance maker said in a filing on Wednesday that Kuka shareholders had tendered 72.2 percent of shares, and it held 13.5 percent already.

An extended offer period will run until Aug. 3, it said.

Reporting by Maria Sheahan; Editing by Tina Bellon

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