BENTON HARBOR, Mich. — Whirlpool Corp. officially acquired Maytag Corp. last Friday, and the combined enterprise immediately began the integration process.
Whirlpool management will lead the combined company headquartered in Benton Harbor, and the company plans to provide more detailed information about its Maytag plans in approximately 60 days.
Former stockholders of Maytag are entitled to receive $10.50 in cash and 0.1193 of a share of Whirlpool common stock for each share of Maytag common stock held, or a total of approximately $848 million in cash and approximately 9.6 million shares of Whirlpool common stock.
The aggregate transaction value, including approximately $9 million of Maytag debt, is $2.6 billion.
Have a question or comment? E-mail our editor Matt Poe at [email protected].