Member access

4-Traders Homepage  >  Shares  >  Nyse  >  KKR & Co. L.P.    KKR   US48248M1027

KKR & CO. L.P. (KKR)

29
Delayed Quote. Delayed Nyse - 12/19 04:01:54 pm
22.49 USD   +0.04%
4h ago China's Fosun raises offer for Club Med
7h agoDJDollar General Still in Talks With Regulators on Family Dollar
2d agoDJKKR Stumbles on Shale Deal
SummaryQuotesChart AnalysisNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

KKR Confirms $3.74 Billion Deal to Buy Gardner Denver

03/07/2013 | 08:26pm US/Eastern

Gardner Denver Inc. (>> Gardner Denver, Inc.) and Kohlberg Kravis Roberts & Co. confirmed the industrial-pumps manufacturer has agreed to be acquired for roughly $3.74 billion.

The New York private-equity firm will pay $76 for each Gardner Denver share, a 2.9% premium to Thursday's close. Shares were recently trading 1.4% higher at $74.91 premarket. The stock has climbed 7.8% since the start of the year.

The deal values Gardner Denver at about $3.9 billion, including the assumption of debt.

KKR had bid $75 a share for the Wayne, Pa.-based company in February and increased the offer after Gardner Denver sought a higher price.

For KKR, the deal would mark the buyout firm's third purchase in the industrials space in the past few years. KKR agreed in April 2011 to acquire Capsugel, a unit of pharmaceutical giant Pfizer Inc. (>> Pfizer Inc.) that makes drugs in capsule form. Later that year, KKR agreed to acquire Capital Safety Inc., a large provider of safety products and equipment for construction and other workers.

KKR ended up being the only serious suitor for Gardner Denver in an up-and-down sales process that dragged on in recent months.

Gardner Denver, which employs about 6,400 people and posted sales of about $2.4 billion last year, pursued a deal with rival SPX Corp. (>> SPX Corporation) late last year after garnering interest from a number of private-equity firms. SPX offered $4 billion for the company but later dropped the bid amid negative reactions from shareholders.

Write to Melodie Warner at melodie.warner@dowjones.com

Order free Annual Report for Gardner Denver Inc.

Visit http://djnewswires.ar.wilink.com/?link=GDI or call 1-888-301-0513

Stocks mentioned in the article : Gardner Denver, Inc., SPX Corporation, Pfizer Inc.
React to this article
Latest news on KKR & CO. L.P.
4h ago China's Fosun raises offer for Club Med
7h agoDJDollar General Still in Talks With Regulators on Family Dollar
2d agoDJKKR Stumbles on Shale Deal
7d agoDJProxy Adviser Backs Proposed Merger Between Walgreen, Alliance Boots
12/11DJFinra Fines 10 Banks Over Their Pursuit of an IPO's Business -- 5th Update
12/11 KKR : United Water : and KKR Sign Utility Partnership with Borough of Middletown..
12/11DJADOBE SYSTEMS : Correction to Adobe Acquisition Story
12/11DJAdobe to Buy Stock-Photo Site for $800 Million--Update
12/11DJAdobe Agrees to Buy Stock-Photography Web Firm for $800 Million
12/11 KKR : and its Partners Agree To Sell Fotolia to Adobe for $800 Million
Advertisement
Chart
Duration : Period :
KKR & Co. L.P. Technical Analysis Chart | KKR | US48248M1027 | 4-Traders
Income Statement Evolution
More Financials
Dynamic quotes  
ON
| OFF