Category: Whirlpool

NEWTON, IOWA”” Maytag has set Dec. 16 as the date for shareholders to either endorse or vote down the company’s proposed acquisition by Whirlpool.

Whirlpool Corp. said third-quarter earnings increased nearly 13% to $114 million, or $1.66 a share, compared with $101 million, or $1.50 a share, in the same period a year ago, despite rising material and petroleum costs that hurt results.

Appliance maker Whirlpool Corporation is donating up to U.S. $1 million in cash, products and services to Hurricane Katrina relief efforts. Products to be donated include refrigerators, clothes washers and dryers, all urgently needed by relief centers throughout the U.S. Gulf Coast.

Whirlpool has announced it’s cutting about 400 jobs, eliminating a third shift at the Fort Smith plant, in conjunction with lowered demand for the product that shift produces.

BENTON HARBOR, Mich. and NEWTON, Iowa, Aug. 22 /PRNewswire-FirstCall/ — Whirlpool Corporation and Maytag Corporation today signed a definitive merger agreement in which Whirlpool will acquire all outstanding shares of Maytag in a cash and stock merger valued at $21 per share. One half of the per…

Whirlpool is buying out rival appliance maker Maytag in a $1.7 billion cash and stock deal. Once completed, the unified entity will be the world’s largest appliance maker.

Skepticism is growing about whether appliance giant Whirlpool Corp. is serious about buying rival Maytag Corp. or is just looking to weaken a competitor by dragging it through a lengthy antitrust process. “There’s something odd about this purchase,” said Steve Sleigh, spokesman for the Internatio…

Credit investors may be best served by avoiding Whirlpool for now unless they know something the rest of the market doesn’t, analysts and traders said on Tuesday. Whirlpool’s plan to absorb its smaller U.S. rival Maytag, a weaker credit, is one of several reasons to short the credit quality of th…

NEW YORK, Aug 16 – Moody’s Investors Service on Tuesday said it may cut Whirlpool’s debt ratings, citing the expectation that Whirlpool will finance part of its Maytag acquisition with debt. Moody’s also revised its outlook on Maytag to “direction uncertain” from “review for possible downgrade

The U.S. Department of Labor announced that Whirlpool Corp. has agreed to settle findings of discrimination against about 800 African-American job applicants. The company will pay a total of $850,000 in back wages as part of the settlement. “Federal contractors should be upholding the highest sta…