TITLE

Whirlpool to bid $1.35 billion for Maytag

PUB. DATE
August 2005
SOURCE
American Drycleaner (Crain Communications Inc. (MI));Aug2005, Vol. 72 Issue 5, p6
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article informs that Whirlpool Corp. (Whirlpool) is planning to buy out Maytag Corp. (Maytag) for 1.35 billion dollars. Maytag is a manufacturer of laundry equipment and consumer appliances. Whirlpool will make a formal offer by August 9, 2005, pending a study of Maytag's finances. Sales growth for Maytag has been sluggish, totaling less than 1% in 2005. A Whirlpool buyout of Maytag would likely be subject to antitrust scrutiny. If successful, the combined company would control more than 50 percent of the laundry market in the U.S.
ACCESSION #
19431495

 

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