Shares of Whirlpool and Maytag fell after TheDeal.com said the U.S. Department of Justice may not approve Whirlpool’s acquisition of Maytag.
Shares of Whirlpool dropped $1.89, or more than 2 percent, to close at $83.10 on the New York Stock Exchange. Maytag declined 88 cents to $17.89.
An article on TheDeal.com, citing people it didn’t name, said antitrust concerns might lead the Justice Department to seek an injunction blocking the merger.
Analyst Laura Champine, who follows both companies for Morgan Keegan, said she was unconcerned about a one-day drop in the share prices.
She said she continues to believe “there’s probably a 50-50 chance” that the acquisition will be approved.
Maytag is the parent of the Hoover Co. in North Canton.
From Beacon Journal
