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Middleby To Acquire Welbilt - Quick Facts

(RTTNews) - 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.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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