Whirlpool (NYSE: WHR) has launched public offerings of common stock and depositary shares, aiming to raise $800 million. The proceeds will be used to reduce outstanding debt on its revolving credit facility and fund strategic corporate objectives, including investments in vertical integration and automation. The market reacted negatively to the news, with Whirlpool’s stock declining by 7.62%.
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Whirlpool seeks $800M to cut debt and fund factory automation
Whirlpool (NYSE: WHR) has launched public offerings of common stock and depositary shares, aiming to raise $800 million. The proceeds will be used to reduce outstanding debt on its revolving credit facility and fund strategic corporate objectives, including investments in vertical integration and automation. The market reacted negatively to the news, with Whirlpool’s stock declining by 7.62%.