Rumors of a possible sale or merger are thought to have caused the biggest spike in Gardner Denver stock since 1994, according to a recent Bloomberg report.
Gardner Denver's stock rose 21 percent Thursday, bringing the stock price to $66 per share. The rise in stock brings the company's market value to $3.23 billion.
The company did confirm in a press release Thursday that the Board of Directors is looking into sale/merger options with the assistance of Goldman, Sachs & Co. They are also looking into the possibility of enhancing the company's existing strategic plan.
Bloomberg is reporting that TPG Capital, Onex Corporation, KKR & Co., Blackstone Group and Bain Capital are among the firms that have interest in the company.
The press release also stats that no decision has been made and that there is no guarantee that these discussions will result in a sale or merger.
Gardner Denver would not comment any further on the matter.
All content © Copyright 2000 - 2014 WorldNow and WGEM. All Rights Reserved.
Persons with disabilities who need assistance with issues relating to the content of this station's public inspection file should contact Administrative Assistant Kathy Woodworth at 217-228-6617. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, at 888-835-5322 (TTY) or at firstname.lastname@example.org.