WELBILT ALERT: Bragar Eagel & Squire, P.C. Investigates Sale of WBT and Encourages ...
NEW YORK, July 15, 2021 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, has launched an investigation into whether the officers or directors of Welbilt, Inc. (NYSE: WBT) breached their fiduciary duties or violated the federal securities laws in connection with the company’s proposed sale to Ali Holding S.r.l (“Ali Group”).
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On July 14, 2021, Welbilt announced that it had entered into an agreement to be acquired by Ali Group in a transaction valued at approximately $4.8 billion. Pursuant to the merger agreement, Welbilt stockholders will receive $24 in cash for each share of Welbilt common stock owned. The deal is scheduled to close in early 2022.
In connection with the agreement with Ali Group, Welbilt also announced that it terminated the prior merger agreement it had entered into with The Middleby Corporation. As part of the termination of that agreement, Ali Group (on behalf of Welbilt) will be paying The Middleby Corporation at $110 million termination fee.
Bragar Eagel & Squire is concerned that Welbilt’s board of directors oversaw an unfair process and ultimately agreed to an inadequate merger agreement. Accordingly, the firm is investigating all relevant aspects of the deal and is committed to securing the best result possible for Welbilt’s stockholders.
If you own shares of Welbilt and are concerned about the proposed merger, or you are interested in learning more about the investigation or your legal rights and remedies, please contact Melissa Fortunato or Alexandra Raymond by email at email@example.com or telephone at (646) 860-9157, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.