GDI
Gardner Denver Inc.NYSE
GDI is defunct.
  • Jul. 23, 2013, 6:16 PM
    KKR secured the cheapest borrowing rates it ever got to fund an LBO, which could cut hundreds of millions of dollars from interest it will pay to finance its $3.9B takeover of Gardner Denver (GDI), banking sources say. With markets no longer worried the Fed will end stimulus too soon, the PE firm is said to have borrowed $2.425B in loans and $575M in bonds for the deal at an average blended interest rate of 4.8%.
    | Jul. 23, 2013, 6:16 PM
  • Jul. 16, 2013, 4:23 PM

    Gardner Denver (GDI) shareholders vote overwhelmingly to approve the proposed merger with Kohlberg Kravis Roberts (KKR) at a special meeting held today. Upon completion of the deal, which is valued at around $3.9B, Gardner Denver shareholders will receive $76 per share in cash from KKR for each share of GDI common stock they own.

    | Jul. 16, 2013, 4:23 PM
  • Mar. 8, 2013, 2:41 AM

    After a sales process that has dragged on for months, KKR (KKR) has reportedly agreed to acquire Gardner Denver (GDI) for $76 a share, or 2.9% above the latter's closing price of $73.85 yesterday. The deal values the industrial-pumps manufacturer at $3.74B; it would be KKR's third purchase of a company in the industrial sector in the past few years.

    | Mar. 8, 2013, 2:41 AM | 2 Comments
  • Mar. 4, 2013, 5:27 PM
    KKR finally may be on the verge of buying Gardner Denver (GDI) and could announce a deal within days, Reuters reports. The two sides are said to have been negotiating a final deal price and other details over the past week, after KKR bid $75/share for GDI on Feb. 21; the board was seeking a higher price from the P-E firm.
    | Mar. 4, 2013, 5:27 PM
  • Feb. 22, 2013, 3:12 PM

    Gardner Denver (GDI +5.3%) moves up after posting better than expected Q4. Net earnings fell 11% Y/Y however, as the maker of air compressors and pumps was hit by lower revenue and charges associated with its attempt to sell itself. The company also lowered FY13 guidance, but shares nonetheless rose as results comfortably beat estimates, and an updraft from yesterday's $75 offer from private- equity firm KKR (KKR +2%).

    | Feb. 22, 2013, 3:12 PM | 1 Comment
  • Feb. 21, 2013, 4:57 PM
    KKR has offered $75/share for on-the-block Gardner Denver (GDI), reports Bloomberg. GDI +5.2% AH to $71. 
    | Feb. 21, 2013, 4:57 PM
  • Feb. 11, 2013, 1:21 PM

    MKM Partners ups Gardner Denver (GDI -0.4%) to Buy ahead of it's pending update on private equity bidding results. The firm says an improving macro environment, positive 4Q pre-announcement and signs of stabilization in pressure pumping point to an upside. Additionally, with improving fundamentals and recent stock price strength of GDI’s peers, the Board may look for more than the rumored $75 - $80 per share offer.

    | Feb. 11, 2013, 1:21 PM
  • Jan. 31, 2013, 3:21 PM
    Gardner Denver (GDI -0.3%) has asked buyout firms to submit final offers for the company by mid-February, Reuters reports, with Advent International, KKR and the partnership of TPG Capital Management and Onex Corp. weighing final bids.
    | Jan. 31, 2013, 3:21 PM
  • Jan. 8, 2013, 3:44 PM
    Shares of Gardner Denver (GDI +0.7%) are active today, getting bid up on reports of renewed talks with buyout firms KKR (KKR +0.5%) and Advent International after talks with SPX Corp. (SPW -1%) ended. GDI has been actively seeking a buyer, and plans to begin meeting next week with Advent and KKR, as well as a team formed by Onex Corp. and TPG Capital.
    | Jan. 8, 2013, 3:44 PM
  • Dec. 21, 2012, 3:05 PM
    Gardner Denver (GDI -10.3%) reportedly ends deal talks with SPX (SPW +1.3%) and invites PE firms that made earlier offers for the industrial machinery maker to meet with management in early January. The talks between GDI and SPX were said to have focused on an SPX offer of ~$85/share, but ended after doubts emerged on both sides about the deal's success.
    | Dec. 21, 2012, 3:05 PM | 1 Comment
  • Dec. 12, 2012, 2:46 PM

    Reuters reports SPX (SPW -0.5%) has outbid private equity firms competing to buy Gardner Denver (GDI +5.7%) by a wide margin, offering to pay more than $4B. The SPX offer was so much higher that GDI reportedly cancelled management meetings with other bidders that were initially set for this week and did not even seek second-round offers.

    | Dec. 12, 2012, 2:46 PM | 1 Comment
  • Dec. 11, 2012, 3:21 AM

    SPX (SPW) reportedly enters negotiations to acquire industrial-pumps maker Gardner Denver (GDI), which has a market cap of $3.47B after closing at $68.32 yesterday. The talks leave private-equity firms on the sidelines after they made offers in the low- to mid-$70s per share in cash. SPX's bid is higher but may include a stock component.

    | Dec. 11, 2012, 3:21 AM
  • Nov. 19, 2012, 9:41 AM

    Gardner Denver (GDI +0.1%) names CFO and Interim CEO Michael Larsen to the top job on a permanent basis and says it's still pursuing strategic alternatives, including a possible sale. Larsen will continue as CFO until the diversified machinery company names a successor. Those reportedly in contention to acquire Gardner Denver, which has a market cap of $3.37B, include KKR (KKR). (PR)

    | Nov. 19, 2012, 9:41 AM
  • Oct. 25, 2012, 3:19 PM

    Trading in Gardner Denver (GDI +14.3%) resumes after a brief halt caused by a volatility spike in reaction to reports GDI has asked Goldman Sachs to explore a sale of the company. Blackstone, Bain Capital, KKR, TPG Capital and Onex reportedly are among firms considering offers for the maker of compressors and vacuum products for industrial applications.

    | Oct. 25, 2012, 3:19 PM