Tuesday, June 14, 2005

China's Largest Appliance Maker May Bid on Maytag

From Business Week: Maytag stock up as Haier Group ponders bid

"Maytag Corp. stock inched up Tuesday after Chinese appliance maker Haier Group indicated it may bid for the company.
An unidentified official at Haier was quoted in dispatches from Shanghai as saying the company is "studying Maytag carefully" prior to deciding whether to go after the No. 3 appliance maker in the United States."

"While some analysts have predicted that a foreign buyer might emerge, Haier hasn't been high on their lists, even though it is China's largest appliance maker.
In the United States, Wal-Mart Stores Inc. is a major retailer for Haier refrigerators, portable dishwashers and air conditioners."

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