5.52%QQQQ 43.86 0.94%SPY 127.78 2.70%
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ITW employs 60,000 workers in 52 countries.
"This higher offer underlines the regard which Enodis has built in the global food-service industry," said Enodis Chairman Peter Brooks in a statement.
"We believe that the combination of ITW food equipment and Enodis will create an expanded global food-equipment platform with very complementary strategic, operational and geographical growth positions," said ITW Chairman and Chief Executive David Speer.
"The collective businesses will have a significantly enhanced product portfolio in addition to greater scale to compete even more effectively and successfully in the global food-equipment industry."
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