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Italy’s Ali Group Makes Sweetened Offer for Welbilt

Carl Icahn
Carl Icahn

Photographer: Victor J. Blue/Bloomberg

Updated on

Italy’s Ali Group has boosted its offer by $1 per share for Welbilt Inc., ramping up a potential bidding war for the U.S. maker of food-service equipment backed by billionaire Carl Icahn.

Milan-based Ali Group is offering $24 per-share in cash for Welbilt, according to a statement Monday, confirming an earlier report in Bloomberg News.