US manufacturing giant Whirlpool has pulled out of an 11th-hour bid to buy West Midlands luxury cooker maker Aga Rangemaster.

The announcement clears the path for the completion of a takeover by fellow US firm Middleby.

In July, it was announced that Illinois-based Middleby had tabled a £129 million bid to buy Aga which is headquartered in Shropshire and runs major manufacturing operations there and in Leamington Spa.

Whirlpool moved to gatecrash the Middleby takeover at the start of September, just a fortnight before Aga's shareholders were due to vote on the Middleby deal on Wednesday this week.

In a statement to the stock exchange, Aga said: "Whirlpool announces that, after full and careful consideration, it does not intend to make an offer to acquire the entire issued and to be issued ordinary share capital of AGA."

Aga previously said it was still backing the 185p-a-share offer made by kitchen equipment firm Middleby despite the new interest from Whirlpool.