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Wednesday, April 21, 2021News Release: 4/21/2021
ELGIN -- Middleby Corp. said it has agreed to acquire Welbilt Inc., a maker of culinary equipment and solutions, in an all-stock transaction. Under the terms of the agreement, Welbilt shareholders will receive a fixed exchange ratio of 0.124 shares of Middleby common stock for each share of Welbilt common stock, with an implied enterprise value of $4.3 billion. The transaction will bring together two complementary businesses, enhancing the Middleby Commercial Foodservice platform with an attractive
