Italian company outbids competitor, buys local manufacturer for $4.8 billion

New Port Richey's Welbilt Inc. purchased by by Milan-based Ali Holding in all-cash deal valued at $4.8 billion.

  • By Business Observer Staff
  • | 5:16 p.m. July 14, 2021
  • | 0 Free Articles Remaining!
FILE: New Port Richey's Welbilt Inc. purchased by by Milan-based Ali Holding in all-cash deal valued at $4.8 billion.
FILE: New Port Richey's Welbilt Inc. purchased by by Milan-based Ali Holding in all-cash deal valued at $4.8 billion.
  • Tampa Bay-Lakeland
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NEW PORT RICHEY—Welbilt Inc. has been bought by an Italian food service manufacturer in an all cash deal worth about $4.8 billion.

Ali Holding S.r.l. is paying $24 per share, according to a statement released by the companies. The boards of both companies unanimously approved the sale. It is expected to close early next year.

 

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