Whirlpool’s top executive fired the first salvo in a possible three-way bidding war for rival Maytag, saying Monday his company’s $1.37 billion offer provides the “best opportunity to address Maytag’s needs.” Jeff M. Fettig, chairman, president and chief executive of the nation’s largest applianc…
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Whirlpool turns up Maytag pressure
Whirlpool, the largest US white-goods maker, raised its offer for Maytag to $1.44bn, or $18 a share, over the weekend in an attempt to put pressure on the manufacturer of the Hoover vacuum cleaner to begin talks. Whirlpool which is attempting to break up an agreed deal for Maytag by Ripplewood, t…
Maytag Responds to Revised Whirlpool Proposal
Maytag Corporation (NYSE: MYG) announced today that its Board of Directors has determined that Whirlpool Corporation’s revised proposal, announced on July 22, may reasonably be expected to lead to a transaction that is financially superior to Maytag’s pending transaction with the Ripplewood-led T…
MAYTAG PROFITS DOWN
Appliance maker Maytag Corp.Friday reported lower-than-expected second-quarter profit that missed estimates, as sales gains were offset by higher steel and energy costs.
Indesit Plans to Close French Factory
Italian appliance maker Indesit Company plans to shut down its French production site in Manom by the end of the year, union sources said, adding that 110 jobs are at risk.
Mini washing machine with anti-microbial housing
Ningbo Sanxi Electric Appliance Industry Co. Ltd has launched model XPB1011A, a mini washing machine with a plastic housing, which is treated with anti-microbial additives. The lightweight and compact model is said to provide a cleaner wash than regular plastic or stainless steel washing machines…
Maytag considers Whirlpool bid as shares soar
Maytag said on Monday it would “consider” an unsolicited approach from Whirlpool worth about $1.4bn, as shares in the US appliance maker now at the centre of a three-way takeover battle soared more than 11 per cent. For now, Maytag said it would continue to stick with a deal agreed in May to be b…
Whirlpool Wade Into The Maytag Buying Frenzy
It would appear that there are many conflicting reports within the industry on what exactly is happening in respect to Whirlpool buying Maytag in a proposed merger. However I can confirm that Whirlpool have not (yet) bought Maytag and whether this is even possible is open to debate.
UK Whitegoods Moves
Today UK Whitegoods recieved the keys for it’s new home and headquarters based in Kilmarnock, Scotland. It is anticipated that the new premises will be fully up and operational by the 2nd August 2005 due to awaiting the installation of phone lines by British Telecom as well as the logistics of pr…
Whirlpool’s Bid for Maytag Tops Offers, Raises Antitrust Issues
Whirlpool, the largest U.S. appliance maker, offered $1.35 billion in cash and stock for Maytag, topping bids from two other groups and raising antitrust issues.