Maytag Corp., a brand name in America for nearly a century that recently has struggled with sagging market share, agreed to be bought for $1.1 billion by a group of investors led by private equity firm Ripplewood Holdings LLC.
The group will pay $14 a share and assume $975 million in debt, according to Maytag. The offer implies a premium of 21 percent to Maytag’s closing share price of $11.56 on the New York Stock Exchange.
