Haier may bid for US Maytag

Haier Group, China's leading home appliance maker, may make a bid for Maytag Corp, a US$4.7bn US appliance company, state media reported, citing the Financial Times. Last month Maytag agreed to be taken private by equity investment company Ripplewood Holdings, but the US$2.1bn deal allows Maytag to seek other bids until the end of this week. Haier's possible bid reinforces the increasing trend of Chinese companies buying US brands to gain an edge in international markets.