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DES MOINES, Iowa (AP) - An investment fund whose buyout offer for Maytag Corp. was rejected said Thursday in a full-page newspaper ad that it remains a suitor in waiting.
"If circumstances change, we continue to have a sincere interest in the future of this great company," said Timothy Collins, CEO of Ripplewood Holdings LLC, the New York investment company that offered $14 a share, or $1.13 billion, for Maytag. That bid launched a bidding war for the Newton-based appliance maker, which also was courted by Chinese rival Haier Group Ltd.'s U.S. subsidiary and Whirlpool Corp.
Maytag executives instead chose to accept Whirlpool's half cash, half stock offer of $21 a share, or $1.7 billion. Maytag shares rose 13 cents to close at $18.63 on the New York Stock Exchange.
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