The Battle for Welbilt

Shares of Middleby (MIDD) got a pop last month when the company said it was buying Welbilt (WBT) for $2.9 billion.

It’s an all-stock deal. Welbilt shareholders will get 0.124 shares of Middleby for each Welbilt share they own. That’s a 28% premium.

Now Italy’s Ali Group has jumped in and said it will offer $3.3 billion for Welbilt. Shares of WBT gained 24% today.

Reuters reports: “The company said it was offering $23 for each Welbilt share, representing a premium of 15.5% to the Welbilt closing price on Thursday.”

Stand by to see if there’s a counter offer.

Posted by on May 28th, 2021 at 6:40 pm


The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.