twice connect
careers

Whirlpool Formally Notifies Regulators Of Merger Plans

9/15/2005 08:27:00 AM Eastern

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 will provide the government with further details of its proposed acquisition, the company said.

Want to read more stories like this?
Get our Free Newsletter Here!