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migraine_in_qcy - Quincy an All-America City finalist - Quincy, IL News - QuincyJournal.com
Yep, businesses are going to ignore the anti-business tax climate of Illinois and line up to move to Quincy due to our All-America city status. If only that were true. Again with your slum-lords. Why don't you name one or give us an address so we can drive past and see what you're talking about?
migraine_in_qcy - Reward now offered for info on shooting of Quincy 12 yr old - Quincy, IL News - QuincyJournal.com
You couldn't be more wrong, as usual. I own part of my home, and the bank owns the rest. Not a realtor, not a landlord. You said there was lack of police presence due to funding, and I asked what you meant by that. Are you saying that funding cuts have reduced police presence, or that you think there needs to be an increased presence, hence additional funding is required? It's pretty obvious…
christhepilot - Reward now offered for info on shooting of Quincy 12 yr old - Quincy, IL News - QuincyJournal.com
HI sorry you didn't understand that landlords are responsible for the property, and I have a feeling by your input your a slum lord. The government put a lot of money into housing for lower income folks like the Hills and north 12th apartment complex and many others to help lower income families, they have to follow rules that keep the buildings in good shape and clean, rent is based off income.…
christhepilot - Quincy an All-America City finalist - Quincy, IL News - QuincyJournal.com
This is great i'm so happy for Quincy, I hope this will mean more income for the city in the way of more business, so they can step up patrols on north end to end the violence, North end has three nursing homes and a growing hospital complex, Maybe even employ some officials to perform rental house inspections to put restrictions on slum lords. More business coming to Quincy shows a good possible…
GoSalukis - Unemployment down in Quincy, Adams Co - Quincy, IL News - QuincyJournal.com
From www.gredf.org/quality-of-life After all, a business is only as good as its employees and a high quality of life leads to happy and productive employees. But it's hard to measure quality of life in data. Numbers don't tell you about community spirit. That's why we urge you to visit in person and experience for yourself…

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KKR reaches deal to buy Gardner Denver

KKR reaches deal to buy Gardner Denver

2 years ago by Bob Gough

Private-equity firm buys company founded in Quincy for $76 a share; Deal expected to close in in the 3rd quarter of 2013

UPDATED

From Reuters:

Private equity firm KKR & Co LP (KKR.N) will buy industrial machinery maker Gardner Denver Inc (GDI.N) for $3.74 billion, four months after the company put itself up for sale.

KKR's offer of $76 per share is at a premium of 3 percent to Gardner Denver's Thursday closing price on the New York Stock Exchange. It is 39 percent above what the stock traded at in late October when the company said it was exploring a sale.

Gardner Denver, which makes compressors, pumps and vacuum products for industrial uses, decided to put itself up for sale following months of pressure from activist investor ValueAct Capital LLC, which reported a roughly 5 percent stake in July 2012.

From quincyjournal.com: Gardner Denver CEO Michael Larsen sent an e-mail to Gardner Denver's 6,400 employees this morning. Here is part of it:

"We are excited about this transaction with KKR as it recognizes the value of the highly respected brand that together we have spent so many years
building, as well as the progress we have made executing our dynamic growth strategy.  We are confident that as a private company, we will be
well-equipped to capitalize on opportunities in the recovering global markets, particularly in energy, and favorable long-term industry trends.
KKR has great respect for our company, shares our confidence in our future and is committed to continuing the Gardner Denver Way.  KKR also recognizes the importance of our employees and your engagement in the business as critical success factors.  This transaction with KKR will offer Gardner Denver employees the opportunity to be part of an experienced, robust organization with the depth of expertise that is required to sustain
success and remain on the cutting edge of our sector."


Click here for more.

Reported Thursday night From wsj.com:

KKR  & Co. has reached a deal to buy industrial-pumps manufacturer Gardner Denver Inc. for $76 a share, said a person familiar with the matter.

The New York private-equity firm and Gardner Denver are expected to make the announcement as soon as Friday, the person said.

The deal values Gardner Denver at roughly $3.74 billion. Its shares closed at $73.85 in 4 p.m. composite trading Thursday on the New York Stock Exchange, giving the company a market capitalization of about $3.63 billion.

KKR's board was meeting late Thursday night to approve the deal, the person said.

KKR had bid $75 a share for the Wayne, Pa.-based company in February and increased the offer after Gardner Denver sought a higher price.

Click here for more.


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