Whirlpool Corp. moved more aggressively Wednesday to clinch a deal to buy rival Maytag Corp. by raising its offer for a third time to $1.79 billion, or $21 a share.
Including the assumption of $977 million of Maytag debt, the entire deal would be valued at $2.7 billion.
The latest offer, a $1-per-share premium to the sweetened bid of $1.62 billion that Whirlpool offered Monday, still consists of 50 percent cash and 50 percent Whirlpool stock. The deal also includes a $120 million "reverse breakup" fee, which would be paid to Maytag if regulators did not approve the deal.
Comments
LJWorld.com doesn’t necessarily condone the comments here, nor does it review every post. Read our full policy. Also, read about banned accounts and harassing comments.