July 10 The world's largest maker of home
appliances Whirlpool Corp said on Thursday it signed
agreements with Fineldo SpA and the Merloni family to buy a
majority interest in Italian household appliances maker Indesit
Company SpA for about 758 million euros ($1.03
The company's offer of 11 euros ($14.98) for every Indesit
share represents a premium of 4.5 percent over Indesit's
Thursday close of 10.53 euros.
The purchase price is based on Indesit's average net debt
position for 2013, Whirlpool said.
The Benton Harbor, Michigan-based company said the
agreements, which are expected to close by the end of 2014,
would give Whirlpool 66.8 percent of the voting stock of
($1 = 0.7345 Euros)
(Reporting by Devika Krishna Kumar in Bangalore; Editing by