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SPX Corp Closes In On $4.2 Billion Gardner Denver Inc Deal-Reuters


Tuesday, 18 Dec 2012 10:16pm EST 

Reuters reported that SPX Corp is closing in on a roughly $4.2 billion deal to buy rival Gardner Denver Inc as it makes progress in securing financing. A deal could value Wayne, Pennsylvania-based Gardner Denver at about $85 per share. Gardner Denver's shares closed at $73.68 on December 18, 2012. SPX has a market value of $3.23 billion, compared to $3.62 billion for Gardner Denver. SPX's financial advisor Credit Suisse Group AG has been joined by Bank of America Corp and JPMorgan Chase & Co in efforts to raise debt for the deal, on condition of anonymity because the talks are confidential. A Gardner Denver spokesman declined to comment while SPX did not immediately respond to a request for comment. Credit Suisse, JPMorgan and Bank of America declined to comment. 

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21 Aug 2014