KKR acquiring Gardner Denver for $3.9B
Gardner Denver, Inc., a global manufacturer of compressors and other industrial equipment, has agreed to be acquired by Kohlberg Kravis Roberts & Co. for $3.9 billion, including the assumption of its debt.
According to a press release issued by the two companies on Friday, KKR will acquire all of the outstanding shares of Gardner Denver common stock for $76 per share in cash.
The price represents a premium of approximately 39 percent to Gardner Denver’s share price on Oct. 24, 2012, the day before the company confirmed that it had begun to explore strategic alternatives. The merger is subject to approval from Gardner Denver’s shareholders, regulatory approvals and other customary closing conditions.
Gardner Denver’s board of directors unanimously approved the merger agreement. The transaction is expected to close in the third quarter.
Last year, GDI’s Nash division opened a new plant in Alta Vista business park to manufacture liquid ring compressors.
Jessop Community Federal Credit Union
- 1Rescue kennel, owner cited by state dog warden | Observer-Reporter
- 2Charges held for court in shaken baby case | Observer-Reporter
- 3Sarris Candies displays "deflategate" chocolate football | Observer-Reporter
- 4Washington County deputy district attorney announces candidacy for district judge | Observer-Reporte
- 5Washington Co.