Ali Group Bids Cash For Welbilt; Middleby Says All-Stock Deal Has More Upside

Ali Group, the multi-brand global foodservice equipment conglomerate based in Milan, Italy, and Vernon Hills, Ill., in the US, confirmed Friday, May 28 it has bid $23-a-share in cash for all Welbilt Corp. outstanding stock. The company said the offer represents a 47.2% premium to the Welbilt share price as of April 20, the last…