Strategic bidder SPX Corp. (SPW) and at least four buyout firms
have expressed interest in buying Gardner Denver Inc. (GDI), an
industrial-equipment manufacturer with a market value of about $3.5
billion, Bloomberg News reported Wednesday on its website, citing
three unnamed sources.
Private-equity companies including Bain Capital LLC, Blackstone
Group LP (BX), Onex Corp. (OCX.T) and TPG Capital are also
interested in Gardner Denver, the report cited one of the sources
as saying.
With at least five potential suitors, there is an increased
possibility that the company will be sold following pressure from
activist investor ValueAct Holdings LP, though Gardner Denver has
hired Goldman Sachs Group Inc. to defend itself against ValueAct,
the report said. Bids are due this week, the sources said in the
report.
Spokesmen for Gardner Denver and SPX didn't respond to requests
for comment, the report said.
Full story:
http://www.bloomberg.com/news/2012-11-06/gardner-denver-said-to-draw-interest-from-spx-four-buyout-firms.html
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