China's Haier launches bold bid for US appliance maker Maytag

[RamboLiberal]

http://news.yahoo.com/news?tmpl=story&u=/afp/20050621/ts_alt_afp/uschinacompany_050621201537

In another display of China's growing economic clout, appliance maker Haier has entered the bidding to take over Maytag Corp., a proud but struggling icon of the US white goods industry.

Maytag said late Monday that it had received a "preliminary non-binding proposal" worth 1.28 billion dollars in cash from Haier America Trading and two US buyout groups -- Bain Capital Partners and Blackstone Capital Partners IV.

The takeover offer, which remains subject to due diligence, is worth 16 dollars a share. A month ago, Maytag agreed to an offer worth 14 dollars a share from a US investor group led by Ripplewood Holdings.

Investors welcomed the interest from China's Haier, marking shares of the Newton, Iowa-based Maytag up 6.0 percent to a close of 16.15 dollars.

What's next - GM?

[slor]

1. Time to learn Madarin folks...

to be better prepared for our new employers.

[Rose Siding]

2. Duplicate topic

http://www.democraticunderground.com/discuss/duboard.php?az=show_topic&forum=102&topic_id=1568973