Whirlpool Corporation has submitted a revised binding offer to acquire Maytag Corporation for U.S. $21 per Maytag share.
This is an increase from Whirlpool 's August 8 bid to buy Maytag for $20 per share.
The revised Whirlpool offer will continue to consist of 50 percent cash and 50 percent Whirlpool stock and all other material terms of the Whirlpool offer, including the $120 million "reverse breakup" fee, remain unchanged.
The total value of the transaction, including assumed Maytag debt of approximately $977 million, would be approximately $2.7 billion.
Text of the letter containing Whirlpool’s revised offer, which was delivered to the CEO and chairman of the Special Committee of Maytag, and the revised Merger Agreement, will be filed August 10 with the Securities and Exchange Commission.
Back to Breaking News