TurboChef, Middleby extend merger agreement through Jan. 7

By Lisa Kerner

Charlotte, N.C., Nov. 21 - TurboChef Technologies, Inc. and Middleby Corp. amended their merger agreement, extending the end date to Jan. 7.

The amendment follows the release of TurboChef's third-quarter financial results and a comprehensive review of the company's business by Middleby, according to a form 8-K filed with the Securities and Exchange Commission.

In August, Middleby agreed to acquire TurboChef in a cash-and-stock transaction valued at about $200 million, or $6.47 per share.

The companies' definitive merger agreement gives TurboChef shareholders a combination of $3.67 in cash and 0.0486 Middleby common shares per TurboChef share, it was previously reported.

Middleby, based in Elgin, Ill., manufactures and sells commercial food-service and food-processing equipment.

TurboChef specializes in commercial speed cook ovens. The company is located in Atlanta.

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