Despite the long shadow cast by its colossal pension liabilities, Aga Rangemaster (AGA) may have found a suitor. The manufacturer of iron-cast cookers confirmed it is in talks over a possible cash offer for the company by US kitchen equipment group Middleby (US: MIDD).
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Aga hinted at a possible change of strategy in January when it announced it had appointed M&A specialist Rothschild as adviser, though no mention of a possible deal was made at the time.
Prior to the teakeover, Numis Securities was forecasting full-year pre-tax profits of £13.5m, giving EPS of 14.6p (from £8.5m and 9.3p in the 2014 calendar year).
