Manitowoc, the US engineering group, on Monday attempted to regain the initiative in the tussle over Enodis, the catering equipment maker, increasing its offer and asking the board to co-operate.

The new bid of 294p a share values the equity at £1.08bn ($2.1bn), with Enodis shareholders due to receive a 2p interim dividend. Enodis also has net debt of £125m, which Manitowoc would take on. Enodis shares opened firmer, up 4½p at 302½p, moving above the value of the offer.