Maytag Goes for a Spin

A new buyout bid has heads spinning again at Maytag (MYG Quote).

A month after the Newton, Iowa, company surprised Wall Street by accepting a $1.1 billion buyout offer, Maytag got a competing bid from a group that includes a fast-growing Chinese appliance manufacturer.

A group led by Bain Capital Partners, Blackstone Capital Partners IV and Haier America Trading wants to buy Maytag for $16 a share. That's $2 a share better than an offer Maytag accepted last month from Ripplewood Holdings. Maytag said it intends to proceed with further due diligence with the Bain-Blackstone-Haier group, though it stressed it "continues to support the Ripplewood transaction." ...