>>
Home / Knowledge / News / Apparel/Garments / Whirlpool ups share value $18 per for Maytag acquisition

Whirlpool ups share value $18 per for Maytag acquisition

25
Jul '05
Michigan based home appliances maker Whirlpool Corporation announced the company has increased value of its proposal to acquire Maytag to $18 per Maytag share from $17 per share.

“By delaying a prompt response and failing to recognize the clearly superior value of their July 17 proposal, the Maytag Board of Directors has jeopardized this important opportunity for consumers, trade customers and shareholders of both Maytag and Whirlpool,” said Jeff M. Fettig, Whirlpool's Chairman, President and CEO. “This amended proposal includes additional terms that we believe should fully address any concerns of the Maytag Directors.”

The amended proposal of $18 per Maytag share is a 29 percent premium to Maytag shareholders compared to the Triton offer. The details of the amended proposal are contained in a letter (attached to this release) that has been delivered to the Maytag Board. The letter reinforces the Company's continuing strong belief that the proposed transaction will receive antitrust clearance and has overwhelming support from trade customers.

Fettig added: “This proposal is the best solution with clearly superior value compared to the Triton offer. I expect the Maytag Board of Directors to do what's best for Maytag shareholders and immediately and fully support this proposal.”

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


Must ReadView All

Pic: Kanpisut Chaichalor | Dreamstime.com

Textiles | On 7th Dec 2021

China’s central bank cuts reserve requirement ratio to support economy

To support development of the economy, the People’s Bank of China...

Pic:  Iurii Krasilnikov | Dreamstime.com

Apparel/Garments | On 7th Dec 2021

Legislation to extend HOPE & HELP Acts until 2035 introduced in US

Companion bills to extend the Haitian Hemisphere Opportunity through...

Pic: Roman Romaniuk | Dreamstime.com

Textiles | On 7th Dec 2021

Euro area, EU see expansion in volume of retail trade in October

In October 2021, the seasonally adjusted volume of retail trade...

Interviews View All

Textile Industry, Head Honchos

Textile Industry
Head Honchos

Increase foreign exchange and create jobs

Textile Industry, Head honchos

Textile Industry
Head honchos

Ensured payment of fee was least concern for students

Textile Industry, Head honchos

Textile Industry
Head honchos

Biggest learning was adaptability

Dhruv Toshniwal & Udit Toshniwal,

Dhruv Toshniwal & Udit Toshniwal

Launched a year ago, Fashions Pvt Limited conceptualises and sees D2C...

Noemi Sanchez,

Noemi Sanchez

Established since 1846, Evlox is a specialised denim manufacturer with its ...

Vikash & Vishal Pacheriwal,

Vikash & Vishal Pacheriwal

Launched in 2018, Raisin is a contemporary fusion fashion brand that aims...

Shaan Sethi, Jaanuu

Shaan Sethi
Jaanuu

Jaanuu, a vertically integrated e-commerce company, has reimagined the...

Ian Russell, Pireta

Ian Russell
Pireta

UK-based Pireta has developed a unique free-form process to add durable,...

Kevin Young & Tom Lucas, Web Industries

Kevin Young & Tom Lucas
Web Industries

Web Industries is a precision formatter of nonwoven materials used in baby ...

Abhishek Agarwal, Purple Style Labs

Abhishek Agarwal
Purple Style Labs

Late Indian fashion designer Wendell Rodricks, is known for his...

Vidur Adlakha & Riccardo Bennidini, La Fuori

Vidur Adlakha & Riccardo Bennidini
La Fuori

With an active presence in US, Italy and India, clothing brand La Fuori...

Anju Modi, Label Anju Modi

Anju Modi
Label Anju Modi

Filmfare Award winner for best costume designer,<b> Anju Modi </b>is...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


December 2021

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search