Deals
Whirlpool to Buy Control of Italy’s Indesit for $1B
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Whirlpool Corp. agreed to pay 758 million euros ($1 billion) for a controlling stake in Italian appliance maker Indesit Co., its largest acquisition since buying former rival Maytag Corp. eight years ago.
Whirlpool will pay 11 euros per share to Fineldo SpA and some members of Indesit’s founding Merloni family for a combined 60 percent stake, the two companies said in a statement yesterday. The shares, which would be purchased at 4.5 percent above the latest closing price, represent 67 percent of the Fabriano, Italy-based company’s voting stock.