Having left the door open to a competing bid with its low-ball offer, Middleby’s plan to secure Aga’s heritage brands and synergies will look half-baked if Whirlpool’s approach is followed by a formal offer, as this would likely be well over 185p. It remains to be seen if the two heavyweight American groups end up slugging it out for Aga but if they do we believe the upside scenario stretches from c240-300p based upon our SoTP analysis. With Whirlpool’s deadline expiring on Monday we upgrade our ....
09 Sep 2015
Competition for Aga’s assets likely to hot up - Buy
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Competition for Aga’s assets likely to hot up - Buy
Middleby Corporation (0K1G:LON) | 0 0 0.0%
- Published:
09 Sep 2015 -
Author:
Matthew McEachran -
Pages:
4
Having left the door open to a competing bid with its low-ball offer, Middleby’s plan to secure Aga’s heritage brands and synergies will look half-baked if Whirlpool’s approach is followed by a formal offer, as this would likely be well over 185p. It remains to be seen if the two heavyweight American groups end up slugging it out for Aga but if they do we believe the upside scenario stretches from c240-300p based upon our SoTP analysis. With Whirlpool’s deadline expiring on Monday we upgrade our ....