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From the National Business Review 13 Sep 2012

Fisher & Paykel Appliances chairman Dr Keith Turner says the company has had "credible" approaches since Haier's takeover intentions were announced on Monday.

Despite reports German industrial giant Bosch is considering blocking Haier's takeover bid, he won't name the companies involved.

"Those inquiries are early days and entirely natural under the circumstances. Where they might lead to and what we might make of them is impossible to tell.

"I don't want to disclose who might have approached us. We've had a range of different inquiries.

"All of the inquiries we've had so far have been from credible parties."

Bosch New Zealand would not comment.
Dr Turner says the approaches have included companies interested in buying F&P divisions but also buying into the company.

An independent report in response to Haier's formal offer – which is yet to be made – will primarily focus on F&P's value, he says.

"It will be up to the board to judge the value being offered by Haier compared to the value advised by the independent expert, compared to anything else that might emerge from the woodwork.

"Valuation of the whole company is quite different from valuation of the parts."

Dr Turner says yesterday's turnover of F&P shares "very modest" after a takeover bid.

F&P shares (NZX: FPA) have jumped 55% this week since Haier's intentions were stated on Monday morning and it named its $1.20 offer price on Tuesday night.