US group raises offer for Enodis

US firms have been courting Enodis since May

US food services group Manitowoc has raised its bid for UK catering equipment maker Enodis.

Enodis said it was now considering the revised offer of 220p per share, which values the business at £891m ($1.13m).

An earlier offer of £850m made by the US firm last month was rejected by Enodis as it undervalued the company.

The Manitowoc proposal is the third takeover approach Enodis has received this year. In May it rebuffed a 195p a share offer from US group Middleby.

Illinois-based Middleby, which makes equipment for commercial kitchens and restaurants, has concentrated on an acquisition strategy to expand rapidly.

Enodis is of interest to the US market as it has manufacturing facilities in the country, as well as in the UK Canada, Western Europe and Asia.

In May, Enodis revealed first half pre-tax profits had risen 71% to £24.4m.