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Why Welbilt Stock Popped 24% Friday

TheMotleyFool

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Back in April, shares of commercial foodservice company Welbilt (NYSE: WBT) jumped after it announced plans to be acquired by larger competitor Middleby (NASDAQ: MIDD). At the time, investors thought the combination that would create a kitchen equipment supply leader in the commercial foodservice space was a good one for shareholders of both companies, and shares of both companies popped.

But today, shares of Welbilt soared 24%, after Reuters reported that Italian foodservice equipment company Ali Group is attempting to outbid Middleby.

Image source: Getty Images.

Source Fool.com

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