Rumor: Haier May Restart Merger Talks with GE
Economic Observer, 7/13/09
Electronics manufacturer Haier Group is reportedly preparing to implement a new round of corporate restructuring. A source close to senior Haier management revealed that the company is planning an acquisition within the near future, but was unclear as to details of which company would be acquired. Some reports said that Haier could restart merger talks with General Electric, and that the two companies were currently in discussions, with a decision to be reached in August. On May 16 of last year, GE said that it hoped to sell or split off its home appliance business, at an estimated price of USD 4–8 bln. Other reports say that Haier could be planning to acquire an Indian home appliance brand for 15–20 bln Indian rupees, with talks already having progressed to the key stage. Sun Kunpeng, director of the external communications department of the Haier Group's corporate culture center said that to date he had received no relevant information.
Keywords: General Electric Haier hardware overseas corporate restructuring home appliances India M&A consumer electronics
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