Whirlpool has to put pressure on the Maytag board to focus on the superior value of its bid.

The market is certainly more confident in the Whirlpool bid.

From the execution standpoint, he [Ward] unfortunately was having trouble, and the board simply lost patience with a few misses.

I think you’ll probably see them move quickly on those things.

The $20 bid was a little bit of a surprise. It reflects a high level of conviction in synergies and sends a pre-emptive signal to other bidders.

The market is speculating that the deal will take longer to close and will have more of a problem clearing FTC approval than Whirlpool is intimating.

Overall, (Maytag’s) competitive position right now is pretty weak.

I think Whirlpool will clear the (Federal Trade Commission).