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Xiamen Overseas Co. Denies Haier Acquisition Reports

Xiamen Overseas Chinese Electronic Co. Ltd. has denied media reports that home appliance maker Haier Group has submitted a takeover offer to the company.

A spokesman said reports of a takeover were just "market rumors." The Shanghai Securities News reported Tuesday that Xiamen Overseas had rejected a takeover offer from Haier.

(Shenzhen Daily September 21, 2005)

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