Category: Maytag

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.

Appliance maker Maytag Corp. asked its shareholders in a federal filing late Friday to vote for a $1.1 billion buyout offer from Ripplewood Holdings and officially set the date for a meeting to approve the merger in its hometown of Newton, Iowa.

Appliance maker Maytag has set an August shareholder vote on a $14-a-share buyout, said on Friday that it expects to complete discussions with a second potential bidding group that includes Chinese appliance maker Haier Group next week.

MAYTAG is to enter the built-in cooking market in the run-up to Christmas. And this will be followed by moves into the built-in home laundry and dishwasher markets early in 2006.

Financial projections provided to federal regulators as part of a possible acquisition of Maytag Corp. assumed closing three factories, including the company’s flagship plant in Newton, Iowa. A preliminary proxy filed with the Securities and Exchange Commission indicated the company could expect …

Haier Group, China’s biggest home appliance manufacturer, is promising to assume Maytag’s US$975 million in debt. The pledge has boosted its takeover bid to US$2.25 billion for the aling white goods company, today’s China Business News reported.

A fresh takeover bid for U.S. appliance maker Maytag has fueled speculation that Fisher & Paykel Appliances may become the target of a foreign bidder, the Dominion Post reported.

At least a half-dozen shareholder lawsuits have been filed against Maytag, claiming that its board of directors is cheating investors by failing to get the best price in a proposed $2.1 billion sale of the company, based in Newton. One of Maytag’s biggest shareholders, Brandes Investment Partners…

Newton-based Maytag will pay a $40 million fee to Ripplewood Holdings if it walks away from a purchase agreement between the two companies, according to papers filed Monday with the U.S. Securities and Exchange Commission. On the New York Stock Exchange, Maytag shares rose again amid conflicting …

Maytag Corp. investor Warren Isabelle said he would probably vote against the $1.13 billion planned purchase of the company by buyout firms because the price is too low.