Indesit celebrates passage to Whirlpool with stock rise

(AGI) Milan, July 11 - Milan's stock market closed on an upturnon Friday due to Indesit's formal announcement of the passageof the Merloni-owned company to Whirlpool. The company's stockgained 2.85 percent to 10.83 per share, after swaying from alow of 10.74 euro to a peak of 10.90 euro. The 11 euro pershare ceiling was almost reached - an amount which, except foradjustments, Whirlpool will pay to the Merloni group at first,and to the market later, in the takeover bid which will belaunched once the Merloni family's share has been acquired.Over 5

(AGI) Milan, July 11 - Milan's stock market closed on an upturnon Friday due to Indesit's formal announcement of the passageof the Merloni-owned company to Whirlpool. The company's stockgained 2.85 percent to 10.83 per share, after swaying from alow of 10.74 euro to a peak of 10.90 euro. The 11 euro pershare ceiling was almost reached - an amount which, except foradjustments, Whirlpool will pay to the Merloni group at first,and to the market later, in the takeover bid which will belaunched once the Merloni family's share has been acquired.Over 5 million shares were traded during the session, equatingto 4.5 percent of the Indesit assets. This is a marked contrastto the 1.5 million daily average trading in the past month. . .