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Enodis caught in bidding war

US food service firm Manitowoc has upped its bid and is offering Enodis shareholders 294 pence a share to secure its purchase of the UK kitchen equipment firm.
Manitowoc has trumped the £1 billion (282 pence a share) offer made by rival bidder, commercial food equipment maker Illinois Tool Works (ITW) and is urging Enodis' management to back its £1.08bn bid.

Last month Enodis' board withdrew its backing for Manitowoc's 260 per share offer (£948m) and recommended its shareholders go for ITW's offer.

Manitowoc firm is keen to buy Enodis to expand into the food service and food retail equipment markets.

Rising bids for the UK refrigeration equipment firm has pushed Enodis' value to 304.75 pence per share (as of May19).

Manitowoc's new offer has led to Enodis being valued at twice what it was worth last month.

The IOR Annual Conference – a conference on-demand

Delegates to the IOR Annual Conference taking place from 21 to 22 April will get the chance to access the event live and all sessions and recordings for up six months afterwards providing fantastic value and allowing anyone registering for the event ...

  01-Apr-2021
ACR News

Plenitude and Modine to build PV plant

Plenitude, a renewable energy production business, and Modine have signed an agreement for the construction of a new solar power plant in Pocenia (Udine). With an installed capacity of 1.585 MWp, the plant is expected to generate approximately 1.8 ...

  27-Jun-2025

Sanhua’s REVOlution for supermarket refrigeration

SANHUA is proud to present its latest innovation in refrigeration technology – the REVO series of controllers. Designed to provide a wide range of applications, the REVO controllers offer high performance and efficiency, ensuring that your refrigerated cabinets maintain optimal conditions for fresh food preservation.
  02-Apr-2025
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