WHIRLPOOL CORP /DE/ (WHR): M&A transaction — Whirlpool completes $3.0B InSinkErator acquisition; pro forma financials filed

WHIRLPOOL CORP /DE/

Purchase price of $3.0B funded by $2.5B term loan and cash on hand; deal closed Oct 31, 2022.
Pro forma 9-mo net sales $15.3B, net earnings $95M (diluted EPS $1.53) vs Whirlpool standalone $93M.
Pro forma FY2021 net sales $22.6B, net earnings $1.76B (diluted EPS $27.54) vs Whirlpool standalone $1.81B.
Preliminary intangible assets of $1.63B including $1.3B indefinite-lived trade names.
Goodwill of $1.15B recognized; inventory stepped up $17M to fair value.

item 2.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

WHIRLPOOL CORP /DE/ completed an acquisition involving Emerson Electric Co. for $3.0 billion (closed 2022-10-31).

Action: acquisition
Counterparty: Emerson Electric Co.
Consideration: $3.0 billion
Closing: 2022-10-31

Exact text from the filing

On October 31, 2022 (the “Closing Date”), Whirlpool Corporation (“Whirlpool”) completed its previously announced acquisition (the “Acquisition”) of the InSinkErator business (“InSinkErator”) from Emerson Electric Co. (“Emerson”) pursuant to the terms of the Asset and Stock Purchase Agreement (the “Purchase Agreement”), dated as of August 7, 2022. Whirlpool acquired InSinkErator from Emerson for an aggregate purchase price of $3.0 billion, inclusive of adjustments for closing working capital, closing indebtedness, and closing cash.

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31 m&a transactions filed in the last 30 days. Browse all m&a transactions →

WHIRLPOOL CORP /DE/ filing history →

Source: SEC EDGAR

accession 0000106640-22-000148

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