Joined Nov 11, 2007
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KKR Expected to Buy $GDI for $75+ a Share

“KKR & Co. is nearing a deal to buy industrial pumps manufacturer Gardner Denver Inc. for more than $75 a share, said a person familiar with the matter.

The deal values Gardner Denver, which employs roughly 6,400 people, at more than $3.68 billion and could be announced in coming days, the person said. Gardner Denver closed at $73.62 on the New York Stock Exchange on Monday, giving it a market capitalization of about $3.61 billion.

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

KKR, the New York private-equity firm, appeared to be the only suitor as the hot-and-cold sales process dragged on in recent months….”

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