Wednesday, June 15, 2005
Yet another Chinese takeover?
First, Lenovo bought IBM's PC division. Now comes news that Chinese white goods giant, Haier, may be considering placing a bid for U.S. firm Maytag, which also manufactures Hoover cleaners, among others. Maytag had initially agreed to a $1.13 billion buyout offer from private equity firm, Ripplewood Holdings, but might reconsider if Haier decides to jump in the fray with a higher offer.
I find it very interesting to watch Indian and Chinese firms start to feel confident enough to acquire well-established firms worldwide. Just this last week, Tata Chemicals had put in a $520 million bid for the Egyptian Fertiliser Company.
I find it very interesting to watch Indian and Chinese firms start to feel confident enough to acquire well-established firms worldwide. Just this last week, Tata Chemicals had put in a $520 million bid for the Egyptian Fertiliser Company.
