ITW - Middleby unlikely to see antitrust issues with Welbilt rival bid low probability expert says

Middleby (MIDD) is unlikely to see antitrust issues in its planned acqusition of Welbilt (WBT) as the industry is more fragmented than people realize, according to an industry expert.The deal likely won't need a second request by U.S. antitrust officials, though one never knows, according to Jamie Clement of Clement & Associates, who has been following the industry for almost two decades.Middleby isn't likely to see a rival bid and the only other potential bidder could be Illinois Tool Works (ITW), according to Clement. He said the price is fair especially considering one of the biggest activst holders in the world in Carl Icahn (and the biggest Welbilt holder) has agreed to vote his shares for the transaction.“If analysts out there think this price is too low than why did Icahn approve the deal," Clement said in a phone interview with Seeking Alpha.Keybanc analyst Jeffrey Hammond agrees and earlier cut his

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Middleby unlikely to see antitrust issues with Welbilt, rival bid low probability, expert says