USA: The Middleby Corporation agrees to purchase Maytag's Blodgett commercial cooking products business
The Middleby Corporation (NASDAQ: MIDD) has agreed to purchase Maytag Corporation's (NYSE: MYG) Blodgett commercial cooking products business for $80 million in cash and $15 million in notes according to a joint announcement on Friday (31 August) by both firms. The sale, which is subject to regulatory approval, is expected to be completed in the fourth quarter of this year. Middleby's financing for the purchase will be led by Bank of America.
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