The Middleby Corporation announced that, under the terms of its previously announced Merger Agreement with Welbilt, Inc., it will not exercise its right to propose any modifications to the terms of the Merger Agreement and will allow the five-day match period to expire. …
Under the terms of the Revised Unsolicited Proposal, Ali Group would acquire all of the outstanding shares of Welbilt common stock for $24 per share in cash, an increase from the previously disclosed $23 per share cash proposal made by Ali Group on May 25, 2021, which implies an enterprise value of approximately $4.8 billion. …
In response to media reports, Ali Holding S.r.l., one of the largest and most diversified global leaders in the foodservice equipment industry, today confirmed that on May 25, 2021, it submitted to the Board of Directors of Welbilt, Inc. a proposal under which Ali Group would acquire all of the outstanding shares of Welbilt common stock for $23.00 per share in cash. …
This transaction will bring together two complementary businesses, accelerate the Middleby growth strategy into key markets globally and increase core capabilities in highly attractive segments. …
Lam joined Welbilt in 2007 with the acquisition of Fabristeel and was named Vice President of Finance, APAC in 2009. Subsequently, he was named Vice President of Marketing, APAC in 2017, where he revamped our marketing strategy and introduced new customer-focused events like the ‘Season’ conferences, Welbilt TV and the promotion of our solutions-based ‘Complete, FIT, Connected’ strategy that differentiates Welbilt from its competitors. …
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