Maytag: RIP

[Richard J Kinch]

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.

[Charles Beener]

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.

[phaeton]

heh... and we just bought a whole pile of Maytag appliances.

[nomedeplame]

From what I hear about Maytag quality going downhill nowdays, it's probably for the best.

[tinacci336]

Didn't Maytag, not to long ago, close its plant in Galesburg, Illinois and move it to Mexico? Where are Whirlpools made? Jack

[Art]

Their quality sucks now unfortunately. My theory is Whirlpool wants them for their service network.

[Joe V]

Whirlpool is closing a plant in Arkansas employing 750 people and building a new one in Mexico employing 1000. So much for the good ole USA.