Jun. 9, 2015, 8:55 PM
- GE's $12B deal to sell its U.S. private-equity lending business to Canada Pension Plan Investment Board is just the beginning of its plan to shed ~$200B of GE Capital assets - and a whole lot of cash to spend on takeovers.
- Although GE may not make a move right away as it tries to complete the $14B purchase of most of Alstom’s energy business, Bloomberg figures it could amass a $40B war chest for takeovers.
- Among speculated targets: Pentair (NYSE:PNR), a provider of water pumps and filtration systems; Flowserve (NYSE:FLS), a maker of industrial pumps and valves; electrical components manufacturer Hubbell (HUB.A, HUB.B); life sciences equipment maker Bio-Rad Laboratories (NYSE:BIO); and some of the assets Halliburton (NYSE:HAL) and Baker Hughes (NYSE:BHI) will divest as part of their merger.
- Whatever the target, acquisitions likely will be part of GE’s transformation after asset sales and returning capital to shareholders.
Jan. 8, 2015, 7:12 AM
Nov. 14, 2014, 7:18 AM
- Flowserve (NYSE:FLS) has submitted a binding offer to acquire the equity of SIHI Group from TBG Europe for approximately €298M ($372.5M).
- SIHI is a global provider of engineered vacuum and fluid pumps and related services.
- Flowserve expects to fund the transaction with cash on hand and debt and anticipates to close the deal in first quarter of 2015.
May 15, 2012, 10:32 AM
Carlyle (CG +0.2%) and TPG are weighing separate $3.5B - $4B bids for United Technology's (UTX +0.6%) pump and compressor units. UTX is selling the pump and compressor businesses of its Hamilton Sundstrand unit to avoid issuing new shares to fund its $16.5B purchase of Goodrich (GR -0.1%). FlowServe (FLS +0.2%) and Dover Corp. (DOV -0.8%) are also said to be mulling over potential bids as well.| May 15, 2012, 10:32 AM