Home
Global Supplier Directory
APPLIANCE Engineer
Supplier Solutions
APPLIANCE Line
Whitepaper Library
Calendar of Events
Association Locator
Contents Pages
Market Research
Subscription Center


 
Daily News

The Manitowoc Company Revises Offer to Acquire Enodis
May 19, 2008
 Printable format
 Email this Article
 Search
The Manitowoc Company, Inc. increased its offer for Enodis in a transaction valued at approximately US$2.4 billion, including the assumption of Enodis’ net debt (approximately $245 million as of March 29, 2008). That is an increase from its original offer of April 14, 2008, and following the recent offer announced by Illinois Tool Works Inc.
 
Glen E. Tellock, Manitowoc president and CEO, said: "Following the current recommended bid for Enodis announced on May 8, 2008, we reconsidered our options carefully and reaffirmed that there is significant strategic merit in bringing these two strong organizations together. Our announcement today highlights that we are determined to bring to bear the many benefits we believe a combination will deliver." Mr. Tellock added, "Our increased offer is at a 5.0% premium to ITW’s offer and a 63.7% premium to Enodis’ average closing price for the 12 months ending April 8, 2008. As such, we believe strongly that our revised offer represents superior value for Enodis’ shareholders. At the same time our revised offer still meets our financial objectives of being EPS accretive in two years and EVA positive in three years."

Back to Daily News

 

Daily News

...........................................................

Oct 21, 2014: AHRI Annual Meeting Registration Remains Open

Oct 20, 2014: Electrolux 3Q Operating Income up 29%

Oct 17, 2014: Whirlpool completes purchase of majority interest in Indesit

Oct 17, 2014: Corrected: AHRI Annual Meeting Registration Remains Open

Oct 17, 2014: Walmart will moderate brick-and-mortar growth and increase capital spending on e-commerce capabilities

More Daily News>>

RSS Feeds
.........................................................
Appliance Industry
Market Research

...........................................................

September 2014: Appliance Industry Focus: HVAC
June 2014: Appliance Magazine Market Insight: April 2014
May 2014: Appliance Magazine Market Insight: March 2014
April 2014: Appliance Magazine Market Insight: February 2014




 
Contact Us | About Us | Subscriptions | Advertising | Home
UBM Canon © 2014  

Please visit these other UBM Canon sites

UBM Canon Corporate | Design News | Test & Measurement World | Packaging Digest | EDN | Qmed | Plastics Today | Powder Bulk Solids | Canon Trade Shows