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Boards Don't Know Best
By Rick Aristotle Munarriz (TMF Edible)
July 25, 2005

Everybody seems to want to get a hold of the Maytag (NYSE: MYG) repairman these days. The already crowded bidding war intensified over the weekend, when Whirlpool (NYSE: WHR) raised its bid for the troubled appliance giant to $18 a share.

This chapter would probably end there if not for one interesting tidbit: Whirlpool was already the high bidder. Pulling the kind of auction maneuver that even a spaced-out eBay junkie would find unfathomable, Whirlpool was simply trumping its own bid of $17, placed a week earlier...
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