Whirlpool has Plans for Maytag Whirl of Bids Puts Spin On Company Sale

Augusta Chronicle, The › July 21, 2005

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Summary

BENTON HARBOR, Mich. - Whirlpool Corp., one of the nation's largest appliance makers, made it a three-way race by offering to buy competitor Maytag Corp. for $1.37 billion in cash and stock, topping an earlier offer that Maytag accepted from an investment group.

Whirlpool said that its offer of $17 per share for Newton, Iowa- based Maytag represents a 21 percent premium over the offer from Triton Acquisition Holding Co. Whirlpool would assume Maytag's debt of $969 million.

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Whirlpool has Plans for Maytag Whirl of Bids Puts Spin On Company Sale

Maytag released a statement early Monday saying its directors would consider the new bid from Whir...

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