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Maytag May Pay $40 Million if Acquisition Falls Through May 23, 2005 |
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Maytag Corp.'s deal to be taken private has a $40 million breakup fee, the appliance maker said on Monday.
The $1.13 billion offer, announced on May 19, calls for private equity firm Ripplewood Holdings LLC of New York, Goldman Sachs Group Inc.'s GS Capital Partners and J Rothschild Group to pay $14 per share in cash for Maytag.
In a filing with the U.S. Securities and Exchange Commission on May 23, Maytag said that if the deal is terminated under certain circumstances, it may have to pay a termination fee of $40 million. (Reuters)