2006-03-29 News Headlines
Merger for appliances duo cleared in the USA
Whirlpool and Maytag appliances businesses have been cleared by the US Department of Justice to complete their proposed transaction merger.
Whirlpool Corporation (NYSE: WHR) and Maytag Corporation (NYSE: MYG)
today announced they have received clearance from the U.S. Department
of Justice to complete their proposed merger. Whirlpool plans to close
the transaction as soon as practical, but no later than April 3, 2006.
"Our merger with Whirlpool provides fair value to Maytag shareholders,"
said Ralph Hake, Maytag's chairman and CEO. "This transaction will
enhance the competitiveness of the Maytag brands with new innovation and
greater global reach to a broader base of consumers through Whirlpool's
established sales and manufacturing capabilities."
Whirlpool Corporation is a global manufacturer and marketer of major
home appliances, with annual sales of more than $14 billion, 66,000 employees,
and nearly 50 manufacturing and technology research centers around the
world. The company markets Whirlpool, KitchenAid, Brastemp, Bauknecht,
Consul and other major brand names to consumers in more than 170 countries.
About Maytag Corporation
Maytag Corporation is a $4.9 billion home and commercial appliance company
focused in North America and in targeted international markets. The corporation's
primary brands are Maytag(R), Hoover(R), Jenn-Air(R), Amana(R), Dixie-Narco(R)
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