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Why Welbilt Stock Jumped Over 30% Today

Why Welbilt Stock Jumped Over 30% Today

Shares of commercial foodservice company Welbilt (NYSE: WBT) soared Wednesday morning after it announced plans to be acquired by larger competitor Middleby (NASDAQ: MIDD). Investors think the combination that will create a kitchen equipment supply leader in the commercial foodservice space is a good one for shareholders of both companies. As of 10:55 a.m. EDT, shares of Welbilt were up about 36% and those of Middleby were trading about 3.4% higher.