Las Vegas Sun

November 9, 2009

Currently: 63° | Complete forecast | Log in

Appliance maker to sell company to investor group

Friday, May 20, 2005 | 9:14 a.m.

DES MOINES, Iowa -- Appliance maker Maytag Corp. has agreed to be bought by an investment group led by private equity firm Ripplewood Holdings LLC for $1.13 billion cash.

The deal announced Thursday evening values the company -- which has struggled against low-cost foreign competitors in recent years -- at $14 per share, and includes the assumption of about $975 million in debt. Maytag will no longer be a publicly traded company after the deal closes.

The board of Newton, Iowa-based Maytag approved the transaction and plans to recommend it to company shareholders. The sale is expected to close before year's end, pending regulatory and shareholder approval.

archive

  • Most Read
  • Discussed
  • Most E-mailed

Complete Listing

Calendar »

  • 9 Mon
  • 10 Tue
  • 11 Wed
  • 12 Thu
  • 13 Fri

All events on Monday »