China’s biggest manufacturer of home appliances, Midea Group, announced Wednesday an unsolicited takeover bid for German robot maker Kuka, offering 115 euros ($130) for each share of the German company, valuing it at over $5 billion. The Chinese company, which has a market cap of about $21 billion based on its listing in the Shenzhen Stock Exchange, had, on Feb. 4, announced it raised its stake in Kuka to 10.2 percent and currently owns 13.5 percent of the German company’s shares.
