Good Evening,
The Middleby Corporation are looking to acquire AGA
Rangemaster. The price is yet to be revealed in full but offer is alleged to be
136 pence in cash or £94M. In the short-term its not likely to bode so well for
the Coalbrookdale foundry and Ketley factory, or least create some worries over
the jobs (unfortunately).
It's not often you get to stocks taken out, albeit at a
modest premium to the previous days' SP. They're fair values with Anite and AGA.
The benefits for AGA is that Middleby is developing links in China and is at a
more advanced stage. Its certainly a win in light of the pension issues for
shareholders.
Atb Fraser
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