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DaveVictor - Quincy Park Board to interview executive director finalists - Quincy, IL News - QuincyJournal.com
Something tells me "might not necessarily be someone with a background in parks but it could be someone from within the community", means we've seen the next director sucking from the public teat before.
migraine_in_qcy - Abandoned baby calls to mind Safe Haven laws - Quincy, IL News - QuincyJournal.com
Safe Haven laws are for people who respect life. They would make no difference in this case. The kind of person who would dump a newborn in to a dumpster sees no difference between an unwanted baby and a spoiled ham sandwich. Why would they go to all the trouble of delivering the baby to the authorities, when such a simple solution is at hand? You've got the pro-abortion, "it's just a mass…
1950Brutus - Strawman: Obama Extends Another Digit...... - Quincy, IL News - QuincyJournal.com
"the amount of work done and summits had on the subject of black-on-black crime" If you are not accomplishing anything then the amount of work done and summits held is WASTED time. It doesn't fit my narrative because it didn't accomplish anything.
babysafehaven - Abandoned baby calls to mind Safe Haven laws - Quincy, IL News - QuincyJournal.com
The future of Baby Safe Haven law awareness is in the /hands of young people who will go out and tell their peers on all platforms of the media that young people listen to, watch, and read. The regions who have young advocates and spokespeople are the most successful in spreading the word about the laws, hotlines and info web sites among the 13 to 30 year old demographic. We have just started the…
UrKidsWillPay - Lovelace indicted in wife\'s death - Quincy, IL News - QuincyJournal.com
"You don't get indicted on nothing." Tell that to Rick Perry or Tom Delay before him. Innocent people get indicted all the time...not that it applies in this situation or doesn't apply. We don't know the facts that were presented at the hearing and even if we knew what was presented, we don't have the benefit of those facts being challenged. The potential defendent and/or his…

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KKR reaches deal to buy Gardner Denver

KKR reaches deal to buy Gardner Denver

1 year, 5 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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