Maytag Board Still Weighing Whirlpool Bid

Maytag Corp., the No. 3 U.S. appliance maker, said its board was unable to determine whether an offer to buy the company from larger rival Whirlpool Corp. is “financially superior.”

Such a determination is a prerequisite to negotiating with Whirlpool under an existing deal with buyout firm Ripplewood Holdings, Newton, Iowa-based Maytag said. Maytag said it would continue to evaluate Whirlpool’s bid.

Whirlpool, the biggest U.S. appliance maker, this week said it was willing to pay $17 a share for Maytag, beating Ripplewood’s previous offer of $14 a share.