China's Haier Group dropped out of the three-way bidding contest for Maytag Corp., leaving Whirlpool Corp. and Ripplewood Holdings LLC to contend for the No. 3 U.S. appliance maker，reported Bloomberg.
Haier doesn't have the strong official background as baby CNOOC, which made it more concerned on the amount of M&A spending. I say it is smart not to spend the money out of its affordability .
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