Whirlpool Notifies Gov't Of Maytag Merger
By Staff -- TWICE, 9/19/2005
Benton Harbor, Mich. — Whirlpool has formally notified the Federal Trade Commission (FTC) and the U.S. Department of Justice of its intent to purchase fellow appliance giant Maytag in a $2.7 billion cash-and-stock deal.
Whirlpool sent notification letters to both agencies last week because it is still unclear whether the FTC or the Justice Department will have jurisdiction over an expected investigation of antitrust issues stemming from the merger. Traditionally, the determination is made by lawyers for both agencies who informally wrangle over authority in high profile antitrust cases.
Once jurisdiction is determined, Whirlpool said it will provide the government further details of the proposed deal.
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