Enodis agrees £1.03bn ITW offer
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Enodis, which makes restaurant equipments for McDonalds, has agreed to be taken over by Illinois Tool Works for £1.03bn.
Under the terms of the offer, shareholders will receive 280p in cash for each share, a 15% premium to Wednesday's 243.5p closing price.
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In addition, Enodis will pay a dividend of 2p per share in lieu of an interim dividend in respect of the financial year ending 30 September 2008.
Enodis agreed last month to be taken over by Manitowoc for around £945m. The US firm, which makes ice-cream fridges, offered to pay 258p per share.
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