secwatch.observer — SEC 8-K summary
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Issuer:     WHIRLPOOL CORP /DE/ (WHR)
CIK:        0000106640
Form:       8-K
Filed at:   2023-01-17T23:59:59+00:00
Accession:  0001193125-23-008823
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.85
Item codes: 1.01, 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Whirlpool contributes European MDA business to JV with Arçelik; preliminary 2022 GAAP loss of $27.50/share
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- Contribution agreement: Whirlpool contributes European major domestic appliance biz to NewCo for 25% stake; Arçelik contributes its biz for 75%. Close expected H2 2023.
- Separately agreed in principle to sell Middle East & Africa business to Arçelik.
- Preliminary FY2022: net sales ~$19.7B, GAAP net loss ~$1.535B (incl. ~$1.5B non-cash loss on disposal); ongoing EPS ~$19.25.
- Transaction expected to deliver >$750M net present value of future cash flows and increase annual free cash flow by ~$250M post-close.
- 2023 outlook: supply constraints improving; similar operational performance to 2022; $500M net cost takeout; tax rate 14-16%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/106640/000119312523008823/0001193125-23-008823-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/106640/000119312523008823/d438278d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-008823

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