David Tepper sends scathing letter to Whirlpool for destroying shareholder value, pushes for changes

David Tepper sent a letter stating management "has destroyed hundreds of millions of dollars of shareholder value" and "enough is enough." He specifically criticizes a dilutive equity issuance and the failure to use tariffs to force a merger or partnership with foreign rivals. Tepper is a highly influential investor. His public activism acts as a catalyst for change. By highlighting the stock's massive decline (from $220 to $71) and demanding a strategic review (merger/partnership), he puts a floor under the price and increases the probability of a buyout or major strategic pivot to unlock value. The specific suggestion to merge with "disadvantaged foreign companies" (who need US manufacturing access to avoid tariffs) provides a clear roadmap for a potential deal. LONG. Follow the activist pressure. The stock is deeply beaten down, and Tepper's push for a sale or partnership creates an asymmetric upside if management capitulates or is forced to act. Management may ignore the letter; the appliance cycle may continue to deteriorate; potential foreign partners may not be interested despite tariff pressures.