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© jackie egginton dreamstime.com Electronics Production | September 01, 2015

Whirlpool interested in AGA Rangemaster

AGA Rangemaster has been approached by white-goods manufacturer Whirlpool about a possible cash offer.
In accordance with its obligations under the UK Takeover Code, the Company has granted due diligence access to Whirlpool and is in discussions with Whirlpool regarding other aspects of the possible offer.

However, back in July AGA accepted a takeover offer from The Middleby Corporation in a deal valued at GBP 129 million. Due to this, the making of a firm offer by Whirlpool remains subject to a number of conditions, and there is no certainty that any offer will be made.

In a statement regarding the possible offer from Whirpool, AGA states: “Given the conditionality of the Whirlpool offer, the Board of AGA believes it is in the best interests of AGA Shareholders, taken as a whole, to ensure that the Middleby Transaction continues to be executed on the current timetable to avoid any delay to completion of that transaction should a firm offer from Whirlpool not be forthcoming.”

In short, the Board of AGA continues to recommend the offer made by Middleby to its Shareholders.

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