Thursday 08. May 2008
ITW Reaches Agreement to Acquire Enodis plc for $2.3 billion; Acquisition to Expand Product Categories and Fast Food Segment Opportunities for ITW’s Existing Food Equipment Business Platform
Illinois Tool Works Inc. (NYSE:ITW) today announced that an agreement has been reached with the Enodis plc Board of Directors on the terms of a recommended $2.1 billion cash offer to purchase the entire issued and to be issued ordinary share capital of Enodis. The transaction also includes the assumption of Enodis’ net debt, which was $210 million as of September 30, 2007, bringing the total fair market value to $2.3 billion.