Ingersoll Rand (IR) Confirms All-Cash Private Offer Made to SPX Flow (FLOW)

  • July 19, 2021

POTENTIAL DEAL DETAILS

StockSPX FLOW, Inc.SymbolFLOW
Date Announced07/19/2021Source Press Release
TypeUnsolicited BidAcquiring Company/Person Lone Star Funds
Date of Confirmation: 12/13/2021Price at Confirmation: $85.64
Potential Profit: 12.79%Annualized Profit: 31.75%

Ingersoll Rand Inc. (IR), a global provider of industrial solutions, confirmed that on June 10, 2021, it made an all-cash non-binding proposal to the Board of Directors of SPX Flow, Inc. (FLOW) to acquire SPX Flow for $85 per share.

Update(s):

July 19, 2021: SPX FLOW, Inc. (FLOW), a leading provider of process solutions, confirmed its Board of Directors previously received and rejected an unsolicited, conditional, non-binding proposal from Ingersoll Rand Inc. (IR) to acquire all outstanding shares of SPX FLOW common stock for $85.00 per share in cash.

July 26, 2021: SPX FLOW, Inc. (FLOW), a leading provider of process solutions, announced that its Board of Directors has authorized a review of strategic alternatives, including a possible sale or merger of the Company and the continued execution of the Company’s standalone strategy.

September 1, 2021: Pumps and compressors manufacturer Ingersoll Rand Inc said it would not participate in SPX Flow’s (FLOW) decision to explore strategic alternatives, including a sale or merger.

November 10, 2021: SPX Flow (FLOW) announced its strategic alternative review is ongoing.

December 13, 2021:  SPX FLOW, Inc. (FLOW),  announced it entered into an agreement to be acquired by an affiliate of Lone Star Funds in an all-cash transaction valued at $3.8 billion, including the assumption of debt.

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