The China manufacturer has announced that it wants to buy Maytag only for its distribution channels; manufacturing plants in Iowa and the US would disappear.
Why would Maytag continue the talks, then? CEO, Board of Directors, large shareholders... the rich will get richer if they sell out to China.
"The first private equity group to bid for Maytag Corp. has warned the appliance maker it might be forced to hand over a $40 million termination fee if Maytag continues to discuss a higher, follow-up offer from a rival group that includes China's largest manufacturer."
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