HAIER, 2 PRIVATE EQUITY FIRMS BID FOR MAYTAG
AsiaInfo Services, June, 2005
AsiaInfo Services 06-23-2005 Haier, 2 Private Equity Firms Bid for Maytag QINGDAO, Jun 23, 2005 (SinoCast via COMTEX) -- Haier Group, together with two private equity firms, has submited a over USD 1.28 billion worth of counter-bid to Maytag Corp., confirmed the struggling maker of Hoover vacuums in an announcement.The two private equity firms are Bain Capital Partners and Blackstone Capital Partners.Over the coming eight weeks, Haier, China's largest home appliance maker, will examine Maytag, said market sources.Haier's Corporate Culture Center did not deny, but only said no announcement is available to be made so far.Chances of a successful acquisition is big, said a observer in the home appliance industry.Maytag, with its heavy use of U.S.-based production, could help...
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