BERLIN/FRANKFURT (Reuters) – German robotics maker Kuka is on the brink of agreeing to an investor agreement with Chinese bidder Midea that includes a long-term commitment to existing headquarters, factories and jobs, a source close to the negotiations said. Kuka needs to decide in the coming week whether it wants to recommend the acceptance of Midea's 4.5 billion euro ($4.99 billion) bid, the biggest German industrial technology company to be targeted by a Chinese buyer in a wave of recent deals. The source told Reuters that there had been a breakthrough in negotiations between Kuka and Midea, with the results presented to a meeting of the supervisory board on Saturday.
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Kuka nears deal with Chinese bidder: source