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CoolEdge - REBEL MEDIA: You\'re a grand old flag - Quincy, IL News - QuincyJournal.com
Were you there after Katrina or some other hurricane? That was a rather unique situation, and many of those billions got poured into the wrong pockets. (and any comparison to the war and famine of Somalia is absurd) That is the problem with throwing ever more billions into education or welfare or any top down political solution. There are always many lined up for political payback, and another…
pjohnf - Amending Illinois Constitution a tough path for pension reform - Quincy, IL News - QuincyJournal.com
Just because it's going to be hard to get done doesn't mean it shouldn't be attempted. Anything worth doing is going to be hard. The politicians need to stop worrying about their political futures and concentrate on doing what's right for Illinois and its citizens. Illinois politicians need to take care of the tax payers and quit kowtowing to government sector unions.
pjohnf - Quinn, Rauner use jobs claims as campaign weapons - Quincy, IL News - QuincyJournal.com
Governments or Governors don't create jobs, they can only create an atmosphere for private sector job growth. That means a low tax rate for businesses and less onerous regulations for businesses. The one good thing I saw was a decline in government jobs which is good thing. The unemployment rate is a bogus number as it doesn't truly reflect how many people are really working. What we need…
CoolEdge - REBEL MEDIA: You\'re a grand old flag - Quincy, IL News - QuincyJournal.com
thanks for the link Not sure why it doesn't come right up with Google. I have to put "qteaparty.com " in for Google to bring it up. Just Qteaparty works for Bing, or even "quincy tea party". Anyway, maybe everyone here can do the search on Google, so the name will start coming up more easily on Google. I'll make it to a meeting one day ... looks like you've had good speakers, but…
AYHSMB - REBEL MEDIA: You\'re a grand old flag - Quincy, IL News - QuincyJournal.com
If you really think about it, the government must want it this way, otherwise, they would try to change it. Anyway, if you read the comment section of eaglebeaky's post, and mine, you'll see there is much disagreement on how the numbers and stats are figured.

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KKR reaches deal to buy Gardner Denver

KKR reaches deal to buy Gardner Denver

1 year, 4 months 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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