When the Haier Group, China's largest home-appliance maker, withdrew its $1.3 billion bid to buy Maytag Corp, the Iowa based appliance manufacturer, it indicated one thing very clearly. Chinese will walk out of a deal, if the deal is going to break their bottom line. Unlike their Japanese counterparts, Chinese have learned one thing clear. No place for sentiments and emotions in business.
Japanese, during the 80s, made big ticket prized acquisitions. The acquisiton of American media companies by Sony is a case in point. Most of these acquisitions made by Japanese companies during the period were at substantial premium and did not add get the acquirers the desired returns.
The Chinese seems to have read the history carefully and learned from it.
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