Welbilt WBT shares are trading higher following a report competitor Ali Group has made a $23/share cash bid for the company.
The WSJ reported Welbilt, which previously agreed to be acquired by Middleby MIDD for $2.9 billion, has received a higher $3.3 billion offer from competitor Ali Group. WSJ cited people famliar with the matter.
Welbilt, Inc., designs, manufactures and supplies foodservice equipment for commercial foodservice market worldwide.
At the time of publication, Welbilt shares were trading 20.1% higher at $23.92. The stock has a 52-week low of $5.21 and a 52-week high of $25.02.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
