Whirlpool rumored to be considering selling Hoover unit

Whirlpool rumored to be considering selling Hoover unit

Market sources claim that Whirlpool Corp. is considering selling off their Hoover division. They had acquired this iconic brand as part of its $1.7 billion purchase of Maytag this year.

Sources claimed that the company is nearing signing a deal to sell Hoover to a private equity firm. However, no names have been mentioned.

The reports further claim that the company tried to approach buyers from around the world for this brand and a deal could be announced as early as next week.

Whirlpool spokeswoman Monica Teague just had this to say about these rumors in the market: “We are still continuing to look at offers as they come in.”

Whirlpool had already said in its last quarterly earnings report it expected to sell Hoover by year-end.