Maytag assists merger review

Maytag assists merger review
Date December 01, 2005
Section(s) Local News


Whirlpool and Maytag said today they have complied with a Justice Department request for more information related to the proposed merger of the corporations.

In a joint announcement released this morning, the companies said they have “certified substantial compliance” with the request from Justice Department’s antitrust division.

To assist in the Justice Department’s review, the corporations have agreed to delay closing the merger until Feb. 27, 2006, although federal regulators may ask for more time. The companies continue to expect the merger to close in the first quarter 2006.

Maytag shareholders will meet at 10:30 a.m. Dec. 22 to vote on the Whirlpool buyout offer. Whirlpool has offered to buy its appliance manufacturer rival for $1.7 billion in a stock and cash offer. In addition, Whirlpool has agreed to assume nearly $1 billion in Maytag debt.


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

%d bloggers like this: