China's appliance maker Haier is under pressure to proceed swiftly with its Maytag bid, as Maytag's other suitor, Triton Acquisition Holding Co, said Maytag's talks with Haier give Triton the right to back out of the proposed merger, The Associated Press reported. Maytag said it would pursue the process with Bain, Blackstone and Haier America as "expeditiously as practicable". The Haier group is offering a preliminary bid of US$16 a share, or US$2 more per share than the Triton investor group. Triton says it is entitled to a US$20m termination fee.
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