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KKR makes $3.7 billion bid for Gardner Denver -source
February 21, 2013 / 10:41 PM / 5 years ago

KKR makes $3.7 billion bid for Gardner Denver -source

NEW YORK, Feb 21 (Reuters) - Private equity firm KKR & Co LP has submitted an offer of $75 per share for Gardner Denver Inc, a person familiar with the matter said on Thursday, valuing the industrial machinery maker at close to $3.7 billion.

The offer, submitted late on Thursday to meet a 1700 Eastern Time deadline, puts KKR in lead position to buy the Wayne, Pennsylvania-based company, after people familiar with the matter told Reuters last week that other private equity bidders were abandoning the process.

The person requested anonymity because details of the sale process are confidential. Gardner Denver and KKR declined to comment.

Gardner Denver shares closed at $67.47 on Thursday, giving it a market value of just over $3.3 billion.

Bloomberg News reported on KKR’s bid earlier on Thursday.

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