Speculation over an £890 million takeover of kitchen equipment firm Enodis has petered out after three months of transatlantic activity.

Enodis confirmed it had been left on its own after US company Middleby said it no longer intended to pursue its interest in the UK company.

With fellow US firm Manitowoc pulling out of the takeover running last week, Enodis shares extended their losses.

Enodis, which is best known for supplying fryers and grills to restaurants such as Burger King and McDonald's, pointed out it would still be able to deliver value to shareholders as a standalone company.

Middleby sparked the takeover battle for Enodis in May with an offer of £796 million that was rejected by the UK company's board.

That alerted Manitowoc, which received the go-ahead to carry out due diligence on Enodis two weeks' ago, fuel-ling expectations that it would proceed with an offer worth at least 220p a share, or £890 million.

But the deal fell through as the pair were unable to agree an acceptable solution to address "certain regulatory risks".