by Wolf Richter
The Great Equalizer has arrived.
The German government said today that it won’t get in the way of the $5-billion acquisition by Chinese appliance maker Midea of Germany’s high-tech-industrial darling, Kuka Robotics Corporation. Midea, which promised up and down that Kuka would remain independent, has secured 95% of Kuka’s shares. Kuka executives have backed the deal. The German government’s efforts to find a more palatable – that is, European – acquirer have flopped. So this deal, the largest Chinese acquisition in Germany, is going to fly.