11th Sep 2015 17:16
LONDON (Alliance News) - US Home appliances firm Whirlpool Corp Friday confirmed it does not intend to make an offer to acquire AGA Rangemaster Group PLC.
Last Tuesday Whirlpool approached AGA over a possible offer for the company, to rival a GBP129 million takeover offer from US Kitchen products company Middleby Corp, which it had already agreed to. The UK Takeover Panel gave Whirlpool a deadline of next Monday to either make a firm offer for the company or walk away.
Whirlpool said that "after full and careful consideration" it does not intend to make an offer for AGA.
Shares in AGA closed down 0.5% at 210.00 pence Friday.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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