Macmillan Inc.’s board met and decided “to...

Macmillan Inc.’s board met and decided “to continue the auction process” of selling the company to the highest bidder. The board withdrew its recommendation of an $85-per-share tender offer made by an affiliate of Kohlberg Kravis Roberts & Co. but took no position on Robert Maxwell’s $86.80-per-share offer. KKR told Macmillan that it may amend its bid. Macmillan’s board asked its advisers to “continue to seek to obtain maximum value for Macmillan’s holders.”