• Home
  • News
    • Politics & Government
    • Business & Economy
    • Crime / Courts
    • Health / Medicine
  • Sports
    • High School Sports
    • Radio Iowa Poll
  • Affiliates
    • Affiliate Support Page
  • Contact Us
    • Reporters

Radio Iowa

Iowa's Radio News Network

You are here: Home / Business / Whirpool CEO says purchase of Maytag would help both

Whirpool CEO says purchase of Maytag would help both

July 19, 2005 By admin

Whirlpool has entered into the bidding to buy fellow Newton-based appliance maker Maytag, and Whirlpool C-E-O Jeff Fettig says the sale would be beneficial for both companies. Fettig says Whirlpool has a strong operating and financial position and has been successful in developing innovation and value to consumers and their trade partners. He says they believe their position represents the best solution ensuring the success of the Maytag brands. Fettig says Whirlpool has upped the price to a 17-dollar per share offer valuing the transaction at two-point-three billion dollars.He says they believe the proposal is “both financially and strategically compelling” and will deliver significant value to both companies’ shareholders. While hoping to prove successful for both Whirlpool and Maytag, Fettig says Whirlpool has bigger goals.He says the acquisition of Maytag will enhance the already dynamic and competitive environment and increase the efficiency of production in the appliance industry. Fettig says the bid comes with an assumed debt of 969 million which represents a 21 percent premium to the current Triton equity proposal, and because of the Triton agreement he says Whirlpool is in a position to submit a firm offer no later than August 9th in order for Maytag to terminate the Triton agreement.

Share this:

  • Facebook
  • Twitter

Filed Under: Business

Featured Stories

Exhibit features lesser known works of Grant Wood

Testing finds 21 new CWD cases in deer

It may become a crime in Iowa to use fake urine in workplace drug tests

February trending 18 degrees below average temperature

Iowa House Education Committee votes to end tenure at UI, ISU, UNI

TwitterFacebook
Tweets by RadioIowa

Iowa’s Jack Nunge lost for the season

Key stretch begins for #9 Iowa

Drake’s Roman Penn lost for the season

Drake’s DeVries named to Naismith watch list

State wrestling opens with limited attendance

More Sports

eNews and Updates

Enter your email address:

Delivered by FeedBurner

Archives

Copyright © 2021 · Learfield News & Ag, LLC