Italian company outbids competitor, buys local manufacturer for $4.8 billion | Business Observer
8 hours ago Share New Port Richey's Welbilt Inc. purchased by by Milan-based Ali Holding in all-cash deal valued at $4.8 billion. NEW PORT RICHEY—Wellbilt Inc. has been bought by an Italian food service manufacturer in an all cash deal worth about $4.8 billion. Ali Holding S.r.l. is paying $24 per share, according to a statement released by the companies. The boards of both companies unanimously approved the sale. It is expected to close early next year. Shares of Welbilt (NYSE: WBT) closed up 0.47% Wednesday at $23.37. This is the second time Wellbilt has announced a sale...
Source: businessobserverfl.com