Monday, December 22, 2014

Wayne firm for sale after activist buys in: report

Gardner Denver price 'could top $3 billion', says Reuters

Wayne firm for sale after activist buys in: report

"Industrial machinery maker Gardner Denver Inc (GDI.N) is exploring a sale and has drawn initial interest from several major private equity firms, according to people familiar with the matter, in a deal that would top $3 billion," reports Reuters here.

The report follows the sudden resignation in July of Gardner Denver boss Barry Pennypacker, who had moved the company headquarters to suburban Philadelphia, after activist investor ValueAct Capital bought a stake
, as I reported here. 

Joseph N. DiStefano
About this blog

PhillyDeals posts raw drafts and updates of Joseph N. DiStefano's columns and stories about Philly-area finance, investment, commercial real estate, tech, hiring and public spending, which he's been writing since 1989, mostly for the Philadelphia Inquirer.

DiStefano studied economics, history and a little engineering at Penn, taught writing at St. Joe's, and has written the book Comcasted, more than a thousand columns, and thousands of articles, and raised six children with his wife, who is a saint.

Reach Joseph N. at JoeD@phillynews.com or 215 854 5194.

Joseph N. DiStefano
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