March 30, 2006 |
Whirlpool Corp. can complete its $1.68-billion takeover of Maytag Corp., the U.S. Justice Department said Wednesday, rejecting concerns from its own lawyers that the combination might hurt competition. The acquisition, approved without any required divestitures, will create the world's largest appliance maker, accounting for 70% of U.S. sales. Thomas O.
July 22, 2005 |
Maytag Corp., the No. 3 U.S. appliance maker, said its board was unable to determine whether an offer to buy the company from larger rival Whirlpool Corp. is "financially superior." Such a determination is a prerequisite to negotiating with Whirlpool under an existing deal with buyout firm Ripplewood Holdings, Newton, Iowa-based Maytag said. Maytag said it would continue to evaluate Whirlpool's bid. Whirlpool, the biggest U.S.
October 15, 2002 |
Maytag Corp., the No. 3 U.S. appliance maker, said it had third-quarter net income of $60.8 million as the company cut expenses and sold a distribution center. It posted per-share net income of 77 cents, contrasted with a net loss of $29.7 million, or 38 cents a share, a year earlier. Sales rose 3.1% to $1.17 billion, the maker of Hoover vacuums and Amana refrigerators said. Maytag expects fourth-quarter profit excluding certain costs to be 60 cents a share.
June 6, 2001 |
Maytag Corp., in a bid to strengthen its focus on premium-brand appliances, said it has agreed to buy two Amana Appliances businesses from privately held Goodman Global Holding Co. for $325 million. The purchase includes Amana's major appliance and commercial microwave oven businesses but excludes its home and commercial heating and air conditioning operations. About 95% of the deal is cash, with the remainder in Maytag stock. Chief Executive Leonard A.
September 15, 2000 |
Maytag Corp. warned that its earnings would be down 8% to 10% in the second half, from $1.74 a share a year earlier, due to the loss of business at Circuit City Stores Inc. and Heilig-Meyers Co. stores. Newton, Iowa-based Maytag, maker of refrigerators, clothes washers and Hoover vacuum cleaners, said it now expects earnings per share in the mid-70-cents range in its third quarter and in the low-to-mid-80-cents range in its fourth quarter.
July 20, 2005 |
Maytag Corp., which is the subject of a bidding war, said Tuesday that Haier Group of China and two partners had dropped their bid for the U.S. appliance maker. Maytag said it had received a letter from the Chinese appliance maker and partners Bain Capital and Blackstone Group saying that they would no longer try to acquire outstanding shares of Maytag. The group's decision came as Maytag rival Whirlpool Corp. prepared a $17-a-share bid for the company, valuing it at $1.3 billion.