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Whirlpool makes offer for Maytag
Associated Press
Published July 18, 2005
BENTON HARBOR, Mich. - Whirlpool Corp. announced Sunday an offer to acquire fellow appliancemaker Maytag Corp. for $2.3-billion, topping an offer earlier this year by Triton Acquisition Holding Co.
Whirlpool said its proposal represents a 21 percent premium over Triton's offer. Whirlpool said its offer of $17 per share for Maytag of Newton, Iowa, includes cash and stock and is based on assumed debt of $969-million.
Whirlpool of Benton Harbor planned a conference call this morning to discuss the proposal.
Maytag had agreed to be acquired by Triton, an entity organized by the Ripplewood Holdings LLC investor group, for $14 a share, in a deal valued at about $1.13-billion.
[Last modified July 18, 2005, 01:38:10]
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