German robot maker Kuka's CEO welcomes Midea bid

Reuters News
Posted: May 27, 2016 5:05 AM

AUGSBURG, Germany (Reuters) - The chief executive of German industrial robot maker Kuka <KU2G.DE> said on Friday he welcomed an impending 4.5 billion- euro ($5 billion) takeover bid from Chinese home appliance maker Midea <000333.SZ>.

"The bid, as it has been announced, can support our strategy," Till Reuters told shareholders at Kuka's annual general meeting.

(Reporting by Jens Hack; Writing by Georgina Prodhan)