Maytag: RIP

http://biz.yahoo.com/ap/051222/whirlpool_maytag.html?.v=9
NEWTON, Iowa (AP) -- Shareholders of Maytag Corp. on Thursday approved the sale of the company to rival appliance-maker Whirlpool Corp. for about $1.79 billion in cash and stock.... If the transaction is cleared by the U.S. Department of Justice early next year, it will mark the end of the iconic Iowa-based company as an independent appliance manufacturer.
If approved the government, Maytag shareholders will receive $21 a share, payable half in cash and half in a fraction of Whirlpool stock. The exact amount Maytag shareholders will get in stock depends on the value of Whirlpool shares when the deal closes. Maytag will become a wholly owned subsidiary of Whirlpool.
Newton-based Maytag was founded in 1893 by Fred Maytag, a maker of farm tools, who introduced a wooden-tub washing machine 14 years later. His innovative designs swept the nation and the company has remained a home- appliance leader for a century.
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Richard J Kinch wrote:

I work for Whirlpool and I have found out that they are going to keep that Maytag Plant running. (try to turn it around , out of the RED. )
I hope all goes good!!!! We need to KEEP ALL the good old U.S.A. Plants running. and not to ship them overseas.
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Charles Beener wrote:

building a new one in Mexico employing 1000. So much for the good ole USA.
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heh... and we just bought a whole pile of Maytag appliances.
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From what I hear about Maytag quality going downhill nowdays, it's probably for the best.
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Didn't Maytag, not to long ago, close its plant in Galesburg, Illinois and move it to Mexico? Where are Whirlpools made? Jack
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Their quality sucks now unfortunately. My theory is Whirlpool wants them for their service network.

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