Whirlpool gatecrashes Aga's sale to Middleby
LONDON, Sept 1 (Reuters) - Aga Rangemaster (LSE: AGA.L - news) , the British range cooker company that had agreed a sale to Middleby , said it had received a competing approach from U.S (Other OTC: UBGXF - news) . appliance maker Whirlpool (NYSE: WHR - news) .
The company, whose large cookers are synonymous with a British country lifestyle, said it had opened its books to Whirlpool but it continued to recommend Middleby (NasdaqGS: MIDD - news) 's agreed $201 million offer.
It (Other OTC: ITGL - news) said that given the conditionality of the Whirlpool offer, it believed it was in the best interests of shareholders to ensure that the Middleby transaction continued to be executed should a firm offer from Whirlpool not be forthcoming.
Aga's shares closed on Friday at 183.25 pence, just below the 185 pence a share agreed offer from Middleby.
(Reporting by Paul Sandle; editing by Kate Holton)