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DES MOINES, Iowa (AP) - Whirlpool Corp. moved more aggressively Wednesday to clinch the deal to buy rival Maytag Corp. by raising its offer for a third time to $1.79 billion, or $21 a share.
Including the assumption of $977 million of Maytag debt, the entire deal was valued at $2.7 billion.
The latest offer, a $1-per-share premium to the sweetened bid of $1.62 billion that Whirlpool offered Monday, still consists of 50 percent cash and 50 percent Whirlpool stock. The deal also included a $120 million "reverse breakup" fee, which would be paid to Maytag if regulators do not approve the combination.
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