September 1, 2015 / 6:36 AM / 2 years ago

Whirlpool gatecrashes Aga's sale to Middleby

LONDON, Sept 1 (Reuters) - Aga Rangemaster, the British range cooker company that had agreed a sale to Middleby , said it had received a competing approach from U.S. appliance maker Whirlpool.

The company, whose large cookers are synonymous with a British country lifestyle, said it had opened its books to Whirlpool but it continued to recommend Middleby’s agreed $201 million offer.

It said that given the conditionality of the Whirlpool offer, it believed it was in the best interests of shareholders to ensure that the Middleby transaction continued to be executed should a firm offer from Whirlpool not be forthcoming.

Aga’s shares closed on Friday at 183.25 pence, just below the 185 pence a share agreed offer from Middleby.

Reporting by Paul Sandle; editing by Kate Holton

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below