Private equity firm KKR & Co LP is nearing a deal to purchase industrial machinery maker Gardner Denver Inc and could announce the agreement in the next few days, two people familiar with the matter said on Monday.The two parties have been negotiating a final deal price and other last-minute details over the past week, after KKR bid $75 per share, or nearly $3.7 billion, for Gardner Denver, on Feb. 21, the people said.Shares of Gardner Denver, which were down 1 percent on Monday before the news, rose 3.6 percent to $73.62 on the New York Stock Exchange, valuing the company at around $3.6 billion.The final price could not be learned, but Gardner Denver's board sought a higher price from the takeover firm, the people familiar with the matter said.
Gardner Denver, Inc. (Gardner Denver) designs, manufactures and markets engineered industrial machinery and related parts and services. Shares of GDI traded higher by 3.65% or $2.59/share to $73.62. In the past year, the shares have traded as low as $45.54 and as high as $76.57. On average, 1238730 shares of GDI exchange hands on a given day and today's volume is recorded at 2209500.
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