Enodis shares up on bid approach

Enodis makes fryers, ice machines and ovens

Shares in Enodis, which supplies fryers to McDonald's, soared more than 50% in Thursday trading after it received a takeover approach from a US firm.

US food services group Manitowoc has made a proposed cash offer of 260 pence per share for the food equipment firm.

Manitowoc's previous overtures to the firm were rebuffed, but Enodis said that it was opening up its books to the potential suitor.

In afternoon trade, Enodis shares were up 77 pence, or 50.1%, at 228.5 pence.

The indicative offer values Enodis at £955m.

In 2006, Manitowoc made a 220p-per-share offer for the firm, which valued it at £891m.

Enodis said there was no certainty a formal offer would be made.