Home
Global Supplier Directory
APPLIANCE Engineer
Supplier Solutions
APPLIANCE Line
Whitepaper Library
Calendar of Events
Association Locator
Contents Pages
Market Research
Subscription Center


 
Daily News

Whirlpool Enters into Agreement with Maytag
Jul 27, 2005
 Printable format
 Email this Article
 Search

Appliance maker Whirlpool Corporation announced that it has entered into a mutual confidentiality agreement with Maytag Corporation.

The agreement allows Whirlpool to immediately commence the due diligence phase of its proposed acquisition of Maytag. Whirlpool said it would make no further comment at the time.

The announcement came after Whirlpool raised its initial acquisition bid of U.S. $17 per share to $18 per share, a 29-percent premium over Maytag's initial agreement with the Ripplewood-led transaction of $14 per share.

"This proposal is the best solution with clearly superior value compared to the Triton offer. I expect the Maytag board of directors to do what's best for Maytag shareholders and immediately and fully support this proposal," Jeff M. Fettig, Whirlpool's chairman, president, and CEO, said at the time of the offer.

In response to the raised bid, Maytag said that it expected the terms of a definitive agreement, if any, with Whirlpool to take into account the risks to Maytag of non-consummation, Whirlpool's assertion that the antitrust clearance process can be completed by the end of 2005, and Whirlpool's overwhelming confidence that there is no antitrust problem in a Maytag/Whirlpool combination.

Back to Daily News

 

Daily News

...........................................................

Aug 29, 2014: Adaptive Frequency Drive Increases Trane Chiller Efficiency

Aug 29, 2014: Vitamix President Receives Entrepreneur of the Year Award

Aug 28, 2014: LG Heat Pump Clothes Dryer Earns Emerging Technology Award

Aug 28, 2014: Early Snowthrower Demand Boosts Toro Sales

Aug 27, 2014: Sustainability Standard Launched for Household Portable and Floor Care Appliances

More Daily News>>

RSS Feeds
.........................................................
Appliance Industry
Market Research

...........................................................

March 2014: Market Research - 62nd Annual U.S. Appliance Industry Forecast
February 2014: Appliance Magazine Market Insight: December 2013
January 2014: Market Research - Appliance Historical Statistical Review: 1954-2012
January 2014: Appliance Magazine Market Insight: November 2013




 
Contact Us | About Us | Subscriptions | Advertising | Home
UBM Canon © 2014  

Please visit these other UBM Canon sites

UBM Canon Corporate | Design News | Test & Measurement World | Packaging Digest | EDN | Qmed | Pharmalive | Plastics Today | Powder Bulk Solids | Canon Trade Shows