An investigation on behalf of investors of Welbilt, Inc. (NYSE: WBT) in connection with the proposed takeover was announced and NYSE: WBT stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 05/06/2021 -- The takeover of Welbilt, Inc. is under investigation concerning whether the takeover of Welbilt, Inc. is unfair to NYSE: WBT stockholders.
Investors who purchased shares of Welbilt, Inc. (NYSE: WBT) and currently hold any of those NYSE: WBT shares have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of Welbilt, Inc. breached their fiduciary duties owed to NYSE: WBT investors in connection with the proposed acquisition.
New Port Rickey, FL based Welbilt, Inc., designs, manufactures, and supplies foodservice equipment for commercial foodservice market worldwide.
On April 21, 2021, The Middleby Corporation (NASDAQ: MIDD) and Welbilt, Inc. (NYSE: WBT) have entered into an agreement under which Middleby will acquire Welbilt in an all-stock transaction. Under the terms of the agreement, Welbilt, Inc. (NYSE: WBT) shareholders will receive a fixed exchange ratio of 0.1240x shares of Middleby common stock for each share of Welbilt, Inc. (NYSE: WBT) common stock in an all-stock transaction, with an implied enterprise value of $4.3 billion. Based on a closing price of $166.83 per NASDAQ: MIDDshare on April 20, 2021, investors in Welbilt, Inc. (NYSE: WBT) will receive a value of approximately $20.69 per share.
However, given that at least one analyst has set the high target price for NYSE: WBT shares at $26.00 per share, the investigation concerns whether the offer is unfair to Welbilt, Inc. (NYSE: WBT stockholders. More specifically, the investigation concerns whether the Welbilt, Inc. (NYSE: WBT Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
Those who are current investors in Welbilt, Inc. (NYSE: WBT) shares have certain options and should contact the Shareholders Foundation.
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About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.