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

KKR & CO. L.P. (KKR)
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KKR Submits Gardner Denver Bid

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02/22/2013 | 06:16am CEST

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.

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Stocks mentioned in the article : KKR & Co. L.P., Gardner Denver, Inc., SPX Corporation
Stocks mentioned in the article
ChangeLast1st jan.
KKR & CO. L.P. 0.94% 22.5 Delayed Quote.6.84%
SPX CORP 0.49% 35.14 Delayed Quote.13.48%
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Financials ($)
Sales 2018 3 618 M
EBIT 2018 2 480 M
Net income 2018 -
Debt 2018 -
Yield 2018 2,67%
P/E ratio 2018 -
P/E ratio 2019 8,56
Capi. / Sales 2018 5,16x
Capi. / Sales 2019 4,40x
Capitalization 18 687 M
Chart KKR & CO. L.P.
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KKR & Co. L.P. Technical Analysis Chart | KKR | US48248M1027 | 4-Traders
Technical analysis trends KKR & CO. L.P.
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 14
Average target price 26,6 $
Spread / Average Target 18%
EPS Revisions
Henry R. Kravis Co-Chairman & Co-Chief Executive Officer
George Rosenberg Roberts Co-Chairman & Co-Chief Executive Officer
Joseph Yong Bum Bae Co-President, Co-COO & Director
Scott Charles Nuttall Co-President, Co-COO & Director
William Joseph Janetschek Chief Financial Officer
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