The Middleby Corporation (MIDD) and Welbilt, Inc. (WBT) have entered into a definitive agreement under which Middleby will acquire Welbilt in an all-stock deal with an implied enterprise value of $4.3 billion. Welbilt shareholders will receive a fixed exchange ratio of 0.1240x shares of Middleby common stock for each share of Welbilt common stock.

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The Middleby Corporation (MIDD) and Welbilt, Inc. (WBT) have entered into a definitive agreement under which Middleby will acquire Welbilt in an all-stock deal with an implied enterprise value of $4.3 billion. Welbilt shareholders will receive a fixed exchange ratio of 0.1240x shares of Middleby common stock for each share of Welbilt common stock.

RTTNews | Apr 21, 2021 06:46AM EDT

06:46 Wednesday, April 21, 2021 (RTTNews.com) - The Middleby Corporation (MIDD) and Welbilt, Inc. (WBT) have entered into a definitive agreement under which Middleby will acquire Welbilt in an all-stock deal with an implied enterprise value of $4.3 billion. Welbilt shareholders will receive a fixed exchange ratio of 0.1240x shares of Middleby common stock for each share of Welbilt common stock.

Timothy FitzGerald will continue as CEO and as a member of the Middleby Board. Bryan Mittelman will continue to serve as Middleby's CFO.

Middleby plans to refinance Welbilt's existing debt through its committed Senior Secured Facility.

Read the original article on RTTNews ( https://www.rttnews.com/3186734/middleby-to-acquire-welbilt-quick-facts.aspx)

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