A fresh takeover bid for U.S. appliance maker Maytag has fueled speculation that Fisher & Paykel Appliances may become the target of a foreign bidder, the Dominion Post reported.
New Zealand-based Fisher & Paykel Appliances’ shares, which rose more than 3 percent on June 22, have gained 20 percent in the last month.
The latest rise came as Chinese appliance maker Haier confirmed it is part of a consortium that will offer U.S. $1.8 billion for Maytag to trump a bid already on the table, leading to speculation in New Zealand that Whirlpool Corp. (WHR) may bid for Fisher & Paykel, the report said. (Dow Jones)