Maytag Corporation pushed back the date of its next shareholders meeting from August 30 to Sept. 9. It needs time to file and distribute proxy information.
On August 12 the board of Maytag, based in Newton, Iowa, U.S., withdrew its recommendation of the pending U.S. $14-per-share cash merger deal with Triton Acquisition Holding, the acquisition vehicle formed by the Ripplewood Holdings led investor group.
As APPLIANCE magazine reported last week, Maytag instead backed the proposal from U.S. rival Whirlpool Corporation, which offered a $21 binding, irrevocable proposal announced on August 10.
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