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SEC okays Whirlpool Corp's Maytag merger proposal
28 Nov '05
2 min read
Michigan based home appliances maker Whirlpool Corporation and leading Appliance Company Maytag Corporation announced that the Securities and Exchange Commission (SEC) has declared effective Whirlpool's registration statement on Form S-4 covering the share portion of the consideration to be issued to Maytag's stockholders upon completion of the proposed merger.
Tomorrow, Maytag will commence mailing to its stockholders the definitive proxy statement/ prospectus contained in the registration statement for use at its special stockholder meeting.
Maytag is moving its special stockholder meeting from December 16, 2005, to December 22, 2005, in order to allow for sufficient notification to stockholders following the SEC clearance process. Maytag stockholders of record as of Nov. 2, 2005, will be eligible to vote on the transaction.
The stockholder meeting is now set to begin at 10:30 a.m. in Newton, Iowa. If the merger is completed, Maytag stockholders will be entitled to receive for each share of Maytag common stock, approximately $21 in value, comprised of $10.50 in cash and between 0.1144 and 0.1398 of a share of Whirlpool common stock, depending on the volume weighted average trading prices of Whirlpool common stock during a 20-day trading period ending shortly prior to completion of the merger.
Maytag Corporation is a $4.7 billion home and commercial appliance company focused in North America and in targeted international markets. The corporation's primary brands are Maytag, Hoover, Jenn-Air, Amana, Dixie-Narco and Jade.
World's leading home appliances manufacturer and marketer Whirlpool Corporation with annual sales of over $13 billion, 68,000 employees. The Company has nearly 50 manufacturing and technology research centers around the globe. The company markets Whirlpool, KitchenAid, Brastemp, Bauknecht, Consul and other major brand names to consumers in more than 170 countries.
Tomorrow, Maytag will commence mailing to its stockholders the definitive proxy statement/ prospectus contained in the registration statement for use at its special stockholder meeting.
Maytag is moving its special stockholder meeting from December 16, 2005, to December 22, 2005, in order to allow for sufficient notification to stockholders following the SEC clearance process. Maytag stockholders of record as of Nov. 2, 2005, will be eligible to vote on the transaction.
The stockholder meeting is now set to begin at 10:30 a.m. in Newton, Iowa. If the merger is completed, Maytag stockholders will be entitled to receive for each share of Maytag common stock, approximately $21 in value, comprised of $10.50 in cash and between 0.1144 and 0.1398 of a share of Whirlpool common stock, depending on the volume weighted average trading prices of Whirlpool common stock during a 20-day trading period ending shortly prior to completion of the merger.
Maytag Corporation is a $4.7 billion home and commercial appliance company focused in North America and in targeted international markets. The corporation's primary brands are Maytag, Hoover, Jenn-Air, Amana, Dixie-Narco and Jade.
World's leading home appliances manufacturer and marketer Whirlpool Corporation with annual sales of over $13 billion, 68,000 employees. The Company has nearly 50 manufacturing and technology research centers around the globe. The company markets Whirlpool, KitchenAid, Brastemp, Bauknecht, Consul and other major brand names to consumers in more than 170 countries.
Whirlpool Corporation
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