Log in
Login
Password
Remember
Lost password
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

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

Delayed Quote. Delayed  - 07/28 04:00:36 pm
24.2 USD   +1.89%
07/28 KKR and Irish investment fund bid to revive house building
07/23 Rheinmetall, Thales interested in Airbus sensor business
07/23DJ3M's Sales Growth Falls Short
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

KKR Submits Gardner Denver Bid

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

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
React to this article
Latest news on KKR & CO. L.P.
07/28 KKR and Irish investment fund bid to revive house building
07/23 Rheinmetall, Thales interested in Airbus sensor business
07/23DJ3M's Sales Growth Falls Short
07/23DJKKR Profit Climbs as Biggest Holdings Grow
07/23 KKR : & CO. L.P. : Results of Operations and Financial Condition, Financial Stat..
07/23 KKR : Announces Second Quarter 2015 Results
07/23 KKR : and Borealis Maritime Joint Venture Acquires Large Fleet from Commerzbank
07/21 KKR : Appoints Atsushi Saito as Chairman for Japan
07/21 KKR : Alliance Tire Group joins KKR’s Green Portfolio Program
07/21DJChina's CICC Applies For $1 Billion Hong Kong IPO
Advertisement
Chart
Duration : Period :
KKR & Co. L.P. Technical Analysis Chart | KKR | US48248M1027 | 4-Traders
Income Statement Evolution
More Financials