Whirlpool commences modified Dutch Auction tender offer for up $1 billion of its shares
Whirlpool Corp. said Thursday it has commenced a modified Dutch Auction tender offer to purchase up to $1 billion of its own shares. The appliance maker said it will pay no less than $150 per share and no more than $170 to the seller in cash. The offer will expire one minute after 11.59 p.m. on May 23, unless it is extended. Shares were not yet active premarket, but have fallen 16% in the last 12 months, while the S&P 500 has gained 11%.