(WGEM) -- The SPX Corporation is in exclusive talks to purchase Gardner-Denver, according to multiple reports.
WGEM business partner Bloomberg reported that SPX was one of many companies interested in Gardner-Denver. The sale to SPX, which is considered a rival of Gardner-Denver, is expected to be completed by the end of the year, and the sale would make the company worth approximately $7 billion.
Gardner-Denver officials announced the company was looking into a sale or merger back in October and in early November.
The reports say the sale is expected to be finalized by the end of the year.
WGEM News has not yet been able to reach SPX or Gardner-Denver for comment.
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