Ali Group Submits Binding All-Cash Proposal to Acquire Welbilt for $24.00 Per Share

Jul 05, 2021

Ali Holding S.r.l. (“Ali Group”), one of the largest and most diversified global leaders in the foodservice equipment industry, today confirmed that it has submitted a definitive proposal and merger agreement to the Board of Directors of Welbilt, Inc. (NYSE: WBT) to acquire all outstanding shares of Welbilt common stock for $24.00 per share in cash. The proposal represents a premium of 3.5% to the Welbilt closing share price on July 2, 2021, the last trading day prior to the July 5, 2021 definitive proposal, a premium of approximately 11.4% to the implied value of the all-stock transaction with The Middleby Corporation (“Middleby Transaction”) as of July 2, 2021, the last trading day prior to Ali Group submitting its proposal to Welbilt, and a premium of 53.6% to the closing share price on April 20, 2021, the last trading day prior to announcement of the Middleby Transaction.

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