NEW YORK, April 21, 2021 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Welbilt, Inc. ("Welbilt" or the "Company") (WBT) - Get Welbilt Inc Report in connection with the proposed acquisition of the Company by The Middleby Corporation ("Middleby") (MIDD) - Get Middleby Corporation Report. Under the terms of the merger agreement, Welbilt's shareholders will receive 0.1240 shares of Middlebly common stock for each share of Welbilt common stock that they hold, representing implied per-share merger consideration of approximately $20.69 based upon Middleby's April 20, 2021 closing price of $166.83. Upon consummation of the deal, Middleby shareholders will own approximately 76% of the newly-combined company, leaving only 24% of the new company controlled by former Welbilt shareholders. The transaction is valued at $4.3 billion.
If you own Welbilt shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:
Or please contact: Joshua Rubin, Esq.WeissLaw LLP1500 Broadway, 16 th Floor New York, NY 10036 (212) 682-3025(888) 593-4771 firstname.lastname@example.org
WeissLaw LLP is investigating whether (i) Welbilt's board of directors acted in the best interests of Company shareholders in agreeing to the proposed transaction, (ii) the per-share merger consideration adequately compensates Welbilt's shareholders, and (iii) all information regarding the sales process and valuation of the transaction will be fully and fairly disclosed.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at email@example.com
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