17th Jun 2015 14:17
LONDON (Alliance News) - AGA Rangemaster Group PLC Wednesday said it is in discussions with food service equipment firm the Middleby Corp regarding a possible cash takeover offer for AGA by Middleby.
Shares in AGA are trading up 35% at 141.19 pence Wednesday afternoon.
AGA, which manufactures cookers and kitchen products, said that there is no certainty that any formal offer will be made or what the terms of any such offer would be. Under UK takeover code, Middleby must either announce a firm intention to make an offer for AGA by July 15, or walk away.
Middleby is a NASDAQ-listed cooking and industrial process equipment company based in the US state of Illinois.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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