Manitowoc Wins Enodis Auction
Published July 1st, 2008
US firm Manitowoc has won the auction for Enodis, the Anglo-American kitchen equipment maker, with a £1.2bn bid after going head-to-head with Illinois Tool Works in a blind auction..
Manitowoc trumped its US rival with a 328p-a-share offer, a 136pc premium to Enodis’s share price before Manitowoc’s first agreed approach at 260p in April. After debt, the final bid is £1.33bn.
