Welbilt Inc

+0.11 (+0.47%)
Mergers / Acquisitions

Ali Group And Welbilt Announce Definitive Merger Agreement

Published: 07/14/2021 15:15 GMT
Welbilt Inc (WBT) - Ali Group and Welbilt Announce Definitive Merger Agreement.
Ali Group - Welbilt Shareholders to Receive $24.00 per Share in Cash.
Ali Group - Deal for Approximately $3.5 Billion in Aggregate Equity Value and $4.8 Billion in Enterprise Value.
Ali Group - Carl C. Icahn (and Affiliates), Who Owns 7.7% of Welbilt Stock, Has Entered Into a Support Agreement in Favor of Transaction.
Ali Group - Transaction is Not Conditioned on Financing.
Ali Group - Has Paid Middleby a $110 Million Termination Fee on Welbilt's Behalf As Agreed to in Ali Group Merger Agreement.
Ali Group - Welbilt Expects to Announce a Special Stockholder Meeting to Approve Ali Group Deal at a Later Date.