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Whirlpool approached AGA, decided it's not interested

Staff writer |
Whirlpool Corp. stepped back from merger talks with AGA Rangemaster Group, according to a regulatory filing, just days after approaching the British company.

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In July, it was announced that Aga Rangemaster, the maker of the range cooker, is being sold to American kitchen equipment company Middleby for $201 million.

The two companies said the deal will enable Aga, with around $400 million in annual revenues and more than 2,500 employees, to benefit from Middleby's global distribution network, while also saving costs.

Aga Rangemaster, which traces its history back to 1939, has struggled in recent years and has been grappling with a large pension deficit. Its shares are down 65 percent since demand for its colorful Aga cookers, which can cost around 6,000 or 7,000 pounds ($9,350-$10,900), took a hit from the financial downturn.

Aga says it has manufacturing sites in Britain, Ireland, France, Romania and Michigan in the U.S.

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