A Chinese appliance maker’s pulling out an offer it made to buy Newton-based appliance maker Maytag. Maytag announced this morning it’s received a letter from Bain Capital Partners, Blackstone Management Associates and Haier America Trading, saying they’ve decided not to pursue acquiring outstanding shared of Maytag. Haier Group is the largest appliance manufacturer in China, and last month made a preliminary offer of one-point-three-billion dollars, a deal that valued Maytag stock at 16-dollars a share. That came one month after Maytag’s board of directors said they accepted an offer of 14-dollars a share, from an investment group headed up by Ripplewood Holdings. Earlier this Whirlpool made an unsolicited offer of 17-dollars share for Maytag, though the company’s directors say they still support the original offer from Ripplewood Investment Group. They’ll be voting on that offer August 19.
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