Maytag assists merger review

Maytag assists merger review
 
Date December 01, 2005
Section(s) Local News
Brief  
 
By PETER HUSSMANN

Editor

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.

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