corporate buzz

Haier Bid for Maytag

Xinhua: Haier Raises Bid to US2.25b for Maytag. Chinese home appliance maker Haier Group had raised its bidding price for U.S. appliance group Maytag Corp. to US$2.25 billion from the previous US$1.28 billion, the China Business News reported.

The floodgates will really open if China accedes to Washington’s demands and relaxes the fixed dollar-RMB peg it currently maintains. Imagine, American companies suddenly becoming 10-30% cheaper. I’ve added Maytag contracts to the site, including the original merger agreement between Maytag and Ripplewood, which sparked this bidding war.