Gardner Denver Shareholders Approve KKR Takeover

It's official -- Gardner Denver (NYSE: GDI  ) will soon be owned by KKR (NYSE: KKR  ) . The former company announced that around 97% of its shareholders assented to the buyout in an official vote.

This past March, Gardner Denver agreed to sell itself to the storied buyout boutique for $76 per share. That engendered a degree of controversy from Wall Street, as some valuations put the company's value much higher. Thomson Reuters StarMine unit pegged it at nearly $85.50.

That $76-per-share price values the company at around $3.9 billion. Current Gardner Denver shareholders will receive that amount in cash in exchange for their stock. The transaction is expected to be completed later this month or in August.

At the moment, Gardner Denver has roughly 49.2 million shares outstanding. Its stock most recently closed at $75.90.

Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2540912, ~/Articles/ArticleHandler.aspx, 11/24/2015 5:18:54 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Eric Volkman

Eric has been writing about stocks and finance since the mid-1990s, when he lived in Prague, Czech Republic. Over the course of a varied career, he has also been a radio newscaster, an investment banker, and a bass player in a selection of rock and roll bands. A native New Yorker, he currently lives in Los Angeles.

Today's Market

updated Moments ago Sponsored by:
DOW 17,812.19 19.51 0.11%
S&P 500 2,089.14 2.55 0.12%
NASD 5,102.81 0.33 0.01%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

12/31/1969 7:00 PM
GDI $0.00 Down +0.00 +0.00%
Gardner Denver, In… CAPS Rating: ****