Italy’s Ali Group tops Middleby's bid for Welbilt

May 28, 2021

More than a month after Middleby Corp agreed to buy its competitor, Welbilt Inc., for $2.9 billion, the kitchen equipment company has received an all-cash offer of $3.3 billion from Italy's Ali Group. The deal would be for $23 per share compared to Middleby's April offer of $20.69 per share.

Florida-based Welbilt's shares closed Thursday at $19.92.

As of press time, neither Middleby, Welbilt nor Ali Group had responded to requests for comments.