Whirlpool Corp. said Sunday that it would offer 1.35 billion dollars in cash and stock for Maytag Corp, topping bids from China's Haier-led group and Ripplewood Holding LLC.

Whirlpool, the largest US home-appliance maker, offered a bid of 17 dollars per share, exceeding Haier Group's bid of 16 dollars a share and Ripplewood's offer of 14 dollars per share. Whirlpool would also assume Maytag's 969 million-dollar debt.

Whirlpool had 30 percent to 35 percent of the US market, while General Electric Co. had about 20 percent. Maytag's US market share had dropped to 15 percent from about 20 percent in the past few years. But analysts said Whirlpool's bid might raise some antitrust concerns.

Haier Group Inc., together with Bian Capital LLC and Blackstone Group LP made its offer on June 21, when Maytag had agreed to Ripplewood's bid. Maytag's shareholders were scheduled to vote on the Ripplewood's offer on Aug. 19.

Source: Xinhua