German appliance giant Bosch is understood to be taking a serious look at buying either a blocking stake or potentially making a rival bid for Fisher & Paykel Appliances against the offer from China's Haier, according to a senior market source.
The source said all of Haier's competitors would be looking closely at the proposed deal and suggested it would not take much money to derail a full takeover.
A blocking stake would need to be more than 10 per cent. Takeover companies need to receive acceptances from shareholders for at least 90 per cent of a company's shares to compulsorily acquire the remainder of the business.
A blocking stake would stop Qingdao-based Haier from gaining full control of the company's intellectual property and allow F&P Appliances to remain public, which would keep certain information in the public arena, the source said.
Another source close to the matter said there were other firms looking at "bits of" F&P Appliances.
FPA Price at posting:
91.0¢ Sentiment: Buy Disclosure: Held
