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M&A pickup among U.S. conglomerates may be undercut by prices

When United Technologies Corp paid more than $16 billion to buy plane parts-maker Goodrich Corp about two years ago, the U.S. conglomerate's biggest-ever takeover raised some eyebrows for its rich valuation.But that is nothing compared to what a buyer would need to cough up today for Rockwell Collins Inc , a similar airplane components maker deemed by Morningstar to be one of the most likely takeout candidates in the industrials sector.While United Tech paid 12.4 times Goodrich's trailing operating earnings at the time, according to Thomson Reuters data, Rockwell's shares now trade at about that level, without any deal premium baked into the price. Takeout premiums among industrials companies averaged about 25 percent last year.Such is the dilemma facing United Tech, 3M Co , Honeywell International and other diversified manufacturers that are eager to bolster their businesses through deals and yet may hesitate as the rising stock market drives prices higher."There are a lot of companie...

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  2. KKR To Buy Gardner Denver For $76 a Share: WSJ

    New York-based private-equity major KKR & Co. has clinched a deal to buy industrial-pump manufacturer Gardner Denver Inc. for $76 a share, The Wall Street Journal re...

  3. Exclusive: KKR close to buying Gardner Denver - sources

    Private equity firm KKR & Co LP is nearing a deal to buy industrial machinery maker Gardner Denver Inc and could announce the agreement in the next few days, two peo...

  4. KKR Nears Deal to Buy Gardner Denver

    FBN’s Shibani Joshi on reports private-equity firm KKR is near a deal to buy Gardner Denver .

  5. Exclusive: Gardner Denver -SPX talks end, no deal - source

    Industrial machinery maker Gardner Denver Inc has ended talks with SPX Corp and has invited the private equity firms that had made offers for the company to re-engag...

  6. Exclusive: Gardner Denver -SPX talks end without deal - source

    Industrial machinery maker Gardner Denver Inc has ended talks with SPX Corp and has invited the private equity firms that made offers for the company to re-engage in...

  7. Stock futures point to higher open, Oracle up early

    Stock futures pointed to a higher open on Wednesday as the latest offers in ongoing U.S. budget negotiations underlined hopes for a deal, while technology shares wer...

  8. Stock futures set to gain for a third day, Oracle rallies

    Stock futures rose on Wednesday as the latest offers in ongoing U.S. budget negotiations underlined hopes for a deal, while technology shares were lifted by strong r...

  9. Stock futures imply third day of gains, Oracle rallies

    Stock futures rose on Wednesday as the latest offers in ongoing U.S. budget negotiations underlined hopes for a deal, while technology shares were lifted by strong r...

  10. Exclusive: SPX closes in on $4.2 billion Gardner Denver deal - source

    Industrial machinery maker SPX Corp is closing in on a roughly $4.2 billion deal to buy rival Gardner Denver Inc, as it makes progress in securing financing, a sourc...

  11. SPX Bid for Gardner Denver Said to Top $4 Billion

    Industrial machinery manufacturer SPX Corp.'s (SPW) bid for Gardner Denver Inc. (GDI) has topped $4 billion, outbidding private equity suitors by a wide margin, the ...

  12. Exclusive: SPX bid for Gardner Denver tops $4 billion - sources

    Industrial machinery maker SPX Corp has outbid private equity firms competing to buy Gardner Denver Inc by a wide margin, offering to pay more than $4 billion for th...

  1. Report: KKR Close to $1B Deal for Crosby Group

    Private equity titan KKR (NYSE:KKR) is reportedly close to a $1 billion deal for Crosby Group, which makes products used in the energy and construction industries.Re...

  2. Exclusive: KKR nears $1 billion Crosby Group deal - sources

    Private equity firm KKR & Co LP is nearing a deal to acquire lifting equipment company Crosby Group LLC for around $1 billion, two people familiar with the matter sa...

  3. Robust loan demand sinks Gardner Denver's borrowing costs

    Global industrial manufacturer Gardner Denver this week raised $2.825 billion in leveraged loans to fund its acquisition by private equity sponsor Kohlberg Kravis Ro...

  4. KKR to finance $3.9 billion Gardner Denver deal at record low rates

    KKR & Co LP on Tuesday secured the cheapest borrowing rates it ever got to fund a leveraged buyout, which could cut hundreds of millions of dollars from interest it ...

  5. KKR to acquire Gardner Denver for $3.74 billion

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

  6. KKR Acquires Gardner Denver for $3.74B

    In the latest large M&A deal in the U.S., private-equity giant KKR & Co. (NYSE:KKR) announced a $3.74 billion deal on Friday to take industrial machinery maker Gardn...

  7. KKR to acquire Gardner Denver for $3.9 billion

    Private equity firm KKR & Co LP will buy industrial machinery maker Gardner Denver Inc for $3.9 billion including debt.The offer values Gardner Denver at $76 per sha...

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