There are three parties after the acquisition of Maytag – Ripplewood, Chian’s Haier Group, and Whirlpool. Maytag’s board of directors has been backing an offer made by Ripplewood.
Whirlpool Not Ready To Back Down From Maytag
There are three parties looking to acquire Maytag. Whirlpool and China’s Haier Group have shown interest, but Maytag’s board of directors is currently backing the offer made by Ripplewood.
Whirlpool Not Done With Maytag
With two other parties looking to acquire Maytag, Whirlpool has gone and increased its bid for the company by a dollar or 5.9% to $18 per share.
Maytag Sales Up From Last Year
Maytag reported its financial results for the second quarter today, with consolidated sales of $1.23 billion. That’s a 6.7% increase from last year’s second quarter.
Whirlpool Shows Its Interest in Maytag
Maytag now has a third party showing interest in purchasing it. That party is Whirlpool, who has offered Maytag $17 per share. Maytag’s board is still leaning toward Ripplewood, but the company said it would consider Whirlpool’s offer.
Whirlpool Goes After Maytag
Whirlpool has made a $17 per share offer to buy Maytag, who said it would consider the proposal, but the company’s board of directors is currently in favor of Maytag’s current deal with Ripplewood.
Whirpool Enters the Maytag Game
Whirlpool has made an offer to purchase Maytag for $17 per share. Maytag said that it would consider the proposal, though the company said that it’s board of directors hasn’t changed its recommendation of the existing Ripplewood-led transaction.
The Bidding War For Maytag Begins
Chinese appliance manufacturer Haier Group along with Bain Capital and Blackstone Group, have made a $1.28 billion offer to buy Maytag.
Maytag Reports 1Q Results
Maytag reported first quarter consolidated sales of $1.168 billion, down 4.2 percent from sales of $1.219 billion in the same period last year.