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Chinese appliance manufacturer gains acceptances for shares

November 7, 2012 - 4:56pm

Chinese home appliance manufacturer Haier gained acceptances for more than 90% of Fisher & Paykel Appliances last night.

That means Haier can now compulsorily acquire the rest.

Haier offered $1.28 a share for the company.

The move comes after the Overseas Investment Office approved the purchase last month.