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qcity05 - REBEL MEDIA: So I have a sign in my yard - Quincy, IL News - QuincyJournal.com
8 million dollars in over run cost is built into the 89 million. That was discussed at the meeting too. So, really it's 81 million. If it's under, it's under, but it won't go over. I disagree that the new schools won't last as long. Architects are committed to building quality structures, not like Ellington and Monroe which were designed to be temporary, both of which are almost…
Hinkdad - REBEL MEDIA: So I have a sign in my yard - Quincy, IL News - QuincyJournal.com
By your own logic, would a positive effect on the teachers not have a positive effect on the students? It's all cause and effect and Newton's 3rd law. I could quote and reference many sources which could then be rebutted by your own, I'll leave the Googling up to you, I have better ways to spend my time. Something we all seem to agree on is that there is an issue and the current structure…
CoolEdge - REBEL MEDIA: So I have a sign in my yard - Quincy, IL News - QuincyJournal.com
Perhaps UKWP is trying to equate military service with "on the teat" teaching jobs. Of course there are many big differences, especially for military that are deployed, which is part of the job. There are indeed many public school teachers that see their unionized, teaching monopoly, "part time" job as a public service that demands the same respect as our military. Not many retire with PTSD, or…
db1998 - REBEL MEDIA: So I have a sign in my yard - Quincy, IL News - QuincyJournal.com
how do i get a sign for my yard?
qfingers - REBEL MEDIA: So I have a sign in my yard - Quincy, IL News - QuincyJournal.com
And you're making the opposite mistake....saying that each thing, when added together, becomes a total justification. That's not how you justify expenditures. You have to make the case for EACH item in it's own right. And you do that compared to what it would cost to fix it in place...assuming you do have to fix it...which apparently we don't...because it hasn't been done.…

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KKR reaches deal to buy Gardner Denver

KKR reaches deal to buy Gardner Denver

1 year, 7 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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