Takeover Panel Deadline for clarification by Whirlpool Corp (9056X)
September 02 2015 - 11:46AM
UK Regulatory
TIDMAGA
RNS Number : 9056X
Takeover Panel
02 September 2015
2015/11
AGA Rangemaster Group plc ("AGA")
THE Middleby Corporation ("Middleby")
Whirlpool Corporation ("Whirlpool")
On 15 July 2015, Middleby announced its firm intention to make
an offer for AGA. The AGA shareholder meetings to approve the
scheme of arrangement for the acquisition of AGA by Middleby are
due to be held on Tuesday 8 September 2015. The court sanction
hearing in respect of the scheme of arrangement is due to take
place on Wednesday 16 September 2015.
On 1 September 2015, AGA announced that it had received an
approach from Whirlpool regarding a possible offer for AGA.
Pursuant to Rule 2.6 and Section 4 of Appendix 7 of the Takeover
Code (the "Code"), the Panel Executive has ruled that, unless the
Panel Executive consents otherwise, Whirlpool must, by 5.00pm on
Monday 14 September 2015, either announce a firm intention to make
an offer for AGA under Rule 2.7 of the Code or announce that it
does not intend to make an offer for AGA. In the event that
Whirlpool announces that it does not intend to make an offer for
AGA, Whirlpool and any person(s) acting in concert with it will,
except with the consent of the Panel, be bound by the restrictions
contained in Rule 2.8 of the Code for six months from the date of
such announcement.
Each of AGA, Middleby and Whirlpool has accepted this
ruling.
2 September 2015
This information is provided by RNS
The company news service from the London Stock Exchange
END
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