Robot revolution: China's Midea bids $5.2b for Germany's Kuka

Shenzhen-listed Midea is looking to apply German technology to China’s growing struggle with rising labour costs and an ageing population.

Robot revolution: China's Midea bids $5.2b for Germany's Kuka

China faces surging labour costs and an ageing population one answer is to bring in the machines. 

China's biggest home-appliance maker said on Wednesday that it intended to launch a takeover bid for Germany's Kuka at 115 per share in cash. The proposed offer by Shenzhen-listed Midea, which already owns a 13.5% stake in Kuka, values the German robotics firm at about 4.6 billion $5.2 billion. 

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