Member access

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

KKR & CO. L.P. (KKR)

23
Delayed Quote. Delayed Nyse - 07/30 04:00:10 pm
24.31 USD   -1.14%
3h ago KKR : Announces Second Quarter 2014 Results
7h ago KKR & CO. L.P. : ex-dividend day
1d ago Carlyle's second-quarter earnings double
SummaryQuotesChart AnalysisNewsCalendarCompanyFinancialsConsensusRevisions 

KKR Submits Gardner Denver Bid

02/22/2013 | 12:16am US/Eastern
Recommend:
0

KKR & Co. (>> KKR & Co. L.P.) on Thursday bid about $3.7 billion for industrial pumps manufacturer Gardner Denver Inc. (>> Gardner Denver, Inc.), according to a person familiar with the matter, capping a hot-and-cold sales process that looked more promising for the company a year ago.

The private-equity firm appeared to be the only suitor lobbing in a bid ahead of a Thursday deadline for offers. Other firms, including TPG, Onex Corp. and CCMP Capitol Advisors showed some interest in Gardner Denver, but they proved less interested than KKR, people familiar with the matter have said.

At $75 per share, KKR's bid is a roughly 11% premium to Thursday's closing price of $67.47.

A Gardner Denver spokesman declined to comment.

Several buyout firms put in offers for Gardner Denver late last year, but the company set them aside to negotiate a deal with rival SPX Corp. (>> SPX Corporation), which was offering closer to $4 billion for the company, other people familiar with the matter said. SPX dropped its bid amid negative reaction from shareholders, after which Gardner Denver restarted talks with buyout firms, those people said.

Gardner Denver is set to report earnings results on Friday. In the third quarter, the company's revenue fell 11% from the same period a year earlier to $548 million, and its profit declined 13% to $64 million.

Shares have been trading higher since last summer when the company announced it was considering a sale, though they dipped this week on news that interest in the company was waning.

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

Stocks mentioned in the article : KKR & Co. L.P., Gardner Denver, Inc., SPX Corporation
Recommend :
0
React to this article
Latest news on KKR & CO. L.P.
3h ago KKR : Announces Second Quarter 2014 Results
7h ago KKR & CO. L.P. : ex-dividend day
1d ago Carlyle's second-quarter earnings double
6d ago KKR : Agrees to Provide Comprehensive Capital Structure Solution to Preferred Sa..
7d agoDJU.S. HOT STOCKS : Hot Stocks to Watch
7d ago KKR : & CO. L.P. : Results of Operations and Financial Condition, Financial Stat..
7d ago KKR : Announces Second Quarter 2014 Results
07/24 KKR : BlackGold Capital Management and KKR Form Strategic Partnership
07/23DJDOLLAR GENERAL : Georgia Senate Race Pits GOP Businessman Against Democratic New..
07/23 QINGDAO HAIER : KKR Became Haier's 3rd Largest Shareholder
Advertisement
Chart
Duration : Period :
KKR & Co. L.P. Technical Analysis Chart | KKR | US48248M1027 | 4-Traders
Income Statement Evolution
KKR _ Co. L.P. : Income Statement Evolution
More Financials
Dynamic quotes  
ON
| OFF