EU: Whirlpool business boosted with latest deal

Whirlpool stocks were bumped up after the world’s largest home appliance producer announced plans to acquire Italy’s Indesit.

According to reports, Whirlpool inked a deal with Fineldo to acquire its shares in the Italian company; the parties agreed on a $1.03 billion deal. In total, Whirlpool will nab a 66.8 percent in Indesit.

Experts say the combination of the companies will likely lead to boosted innovation and technologies in the home appliance industry.

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