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  • Dec. 14, 2015, 9:12 AM
    • SPX Corp. (NYSE:SPXC) has agreed to sell its Dry Cooling business (which accounts for about 10% of power segment revenues) to Paharpur Cooling Towers Ltd for $48M.
    • The transaction, which is expected to be finalized during the first half of 2016, does not include SPX's South African subsidiary, DBT Technologies.
    | Dec. 14, 2015, 9:12 AM
  • 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
  • Oct. 3, 2012, 11:47 AM
    India's Paharpur Cooling Towers Ltd. reportedly is in talks to acquire the cooling business of SPX Corp. (SPW +5.7%) for $500M-$600M, and the Indian company’s management is exploring ways to tie up the financing of the deal with several foreign banks  SPX declines to comment.
    | Oct. 3, 2012, 11:47 AM
  • Jun. 26, 2012, 7:55 AM
    As expected, the EU approves Robert Bosch's $1.15B acquisition of the automotive service ops of U.S. manufacturer SPX (SPW). "The Commission's investigation found that a number of credible competitors would remain active in the markets concerned after the proposed transaction," the EU says.
    | Jun. 26, 2012, 7:55 AM
  • Jun. 25, 2012, 11:17 AM

    The EU is set to unconditionally approve the acquisition of SPX's (SPW) automotive service ops by Robert Bosch for $1.15B, Reuters reports. The EU has set tomorrow as the deadline for making a decision.

    | Jun. 25, 2012, 11:17 AM
  • Aug. 25, 2011, 10:52 AM

    SPX Corp. (SPW -3.5%) shares slide after the manufacturing and industrial equipment supplier agrees to acquire Clydeunion Pumps for $1.15B in a bid to expand its international customer portfolio.

    | Aug. 25, 2011, 10:52 AM