ENODIS PLC AGREES TO RECOMMEND OFFER FROM THE MANITOWOC
COMPANY, INC. FOLLOWING COMPLETION OF AUCTION PROCESS
Manitowoc to acquire Enodis for $2.7 billion
- Completion of transaction would position Manitowoc as a global leader in
commercial foodservice equipment
- Provides opportunity to replicate the highly successful growth strategy employed
in Manitowoc’s Crane segment
- Cost and revenue synergies are expected to exceed $80 million per annum by 2010
- Transaction expected to be EPS accretive in 2009 and EVA positive in 2011
For further details, click to read the press release. |