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Whirlpool makes progress in Maytag acquisition

13 Aug '05

1 min read

Michigan based home appliances maker Whirlpool Corporation issued the following statement in response to Maytag Corporation's announcement that it has deemed Whirlpool's offer to acquire Maytag for $21 per share in cash and stock a “superior company proposal” and has withdrawn its recommendation of Maytag's existing agreement with Triton Acquisition Holding Company.

“They welcome the determination by the Maytag board of directors that is a superior proposal and look forward to the signing of a definitive agreement with Maytag,” said Jeff M. Fettig, Whirlpool's Chairman, President and CEO.“They have amended the offer to provide that it will remain open until 12 noon (Eastern time) on August 23, 2005, in light of the various actions and time requirements Maytag must observe prior to terminating its agreement with Triton.”

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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