Whirlpool will pay more than $1 billion for a controlling stake in Indesit, the appliance maker's counterpart in Italy.

The deal announced Friday will put the U.S. company in possession of shares representing 66.8 percent of Indesit's voting stock. Whirlpool, which also owns Maytag, KitchenAid and other brands, will pay $15.06 per Indesit share.

Read more

Source: http://abcnews.go.com