Shares in F&P Appliances jump after takeover approach
WELLINGTON, Sept 10
WELLINGTON, Sept 10 (Reuters) - Shares in New Zealand kitchen and laundry appliances maker Fisher and Paykel Appliances jumped to a 2 1/2-year high on Monday after the company announced it had received a takeover approach from China's Haier Electronics Group Co Ltd.
Shares opened 28.0 percent higher at NZ$0.960 ($0.78), their highest since early 2009.
Earlier in the day, F&P Appliances said the Chinese firm had indicated its intent for a cash takeover of the company. ($1 = 1.2337 New Zealand dollars) (Reporting by Naomi Tajitsu)