Dr Till Reuter, chief executive of Kuka, is said to have made the comments at a shareholders’ meeting today.
Speaking of the proposal by Midea, Dr Reuter says: “The bid, as it has been announced, can support our strategy.”
Midea, an appliance manufacturer based in China, formally launched a takeover bid in the last week, after having acquired around 15 per cent of the German company’s shares in the past few.
“We have set ourselves a goal of reaching a billion euros in sales by 2020. A partner who supports this strategy and provides us with better market access could be a considerable growth driver for Kuka,” adds Reuter, the Kuka boss.
The Midea bid values Kuka at around $5 billion. Kuka’s management and supervisory boards have not yet made official recommendations to shareholders about the bid, according to Reuters, the news agency.