Hints and tips:
...Manitowoc rose 11 per cent to $32.93 after investment firm Relational Investors urged the company to spin off its food business, which makes refrigerators and ovens used in commercial kitchens....
...About Pinnacle Foods Group LLC Pinnacle Foods Group LLC is a leading producer, marketer and distributor of high-quality branded food products in the dry foods and frozen foods segments....
...“This higher offer underlines the regard which Enodis has built in the global foodservice industry,” said Peter Brooks, chairman of Enodis....
...Approaches in 2006 from US competitors Middleby – at 195p – and then Manitowoc – at 220p – were followed by one from UK rival Aga Foodservice at below 200p....
...That trumped an earlier bid of 260p from Manitowoc, another US group....
...On Friday, Aga Foodservice , down 3.6 per cent to 411½p, sold its commercial cooking business to Ali of Italy for £260m....
...Enodis added 1.5 per cent to 155p on reheated Manitowoc bid rumours, while Aga Foodservice firmed 2.5 per cent to 298½p after Edmund Truell, the pension fund buy-out specialist, declared a raised holding...
...Enodis was among the companies analysts expected to consider a bid for Aga’s foodservice business, along with US-based competitors Middleby and Manitowoc....
...That seems the clear message from Aga Foodservice’s decision to divest its foodservice business. After rejecting calls to break-up up the group earlier in the year, Aga has done a strategic U-turn....
...Enodis added 1.1 per cent to 188p amid talk it was set to make an offer for the foodservice business of Aga, steady at 433p....
...prognosticator, but it’s tough to see why the outlook should be much brighter for KKR, which has been involved with two of the most highly leveraged LBOs in recent months, those of Dollar General and US Foodservice...
...There was news of stake building at Aga Foodservice....
...Over the summer, Enodis saw off two US rivals, Middleby and Manitowoc, which had indicated they were prepared to pay 195p and 220p, respectively....
...Dutch rival Ahold climbed 4.7 per cent to €7.78 on reports it had received a number of offers for its US Foodservice division....
...Enodis ended takeover talks with two US suitors, Middleby and Manitowoc in the summer....
...It spent £1.8m in the second half of the past financial year on fees to defend itself against Middleby and Manitowoc....
...Norwegian billionaires formed listed companies to finance and project-manage rig construction....
...The company saw interim pre-tax profits jump to 24.4m, from £8.8m a year earlier, lifted by a strong performance across all markets. Enodis refused to comment on the Manitowoc approach last night....
...AGA Foodservices, gained 1.5 per cent to 396p after Panmure Gordon took the view that the company, which last week revealed details of a merger approach to rival Enodis, 0.6 per cent better to 189½p, is...
...■Enodis, the catering equipment manufacturer, could be the subject of a transatlantic bidding war after Manitowoc, a US industrials group, hired JPMorgan Cazenove to advise it on a £900m bid....
...The excitiement also boosted AGA Foodservice, maker of the farmhouse-style ovens, which jumped 9 per cent to 387p....
...“We are working hard to re-establish US Foodservice as a viable, reliable and ethical company,“ said Mr Molberg. The company also announced a 16 per cent rise in the Mr Moberg’s salary package....
...Aga Foodservice Group dipped 0.6 per cent to 304p after it acquired Waterford Stanley, the Irish based range cooker and stoves company, for up to €13.8m in cash from Pricoa the US financial services group...
...Talks to off-load the remaining disposals - including the Dutch foodservice business, Brazilian chain Barbosa, and US convenience chain Tops - are expected to conclude next year and raise about ?250m....
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