Industrial machinery maker Gardner Denver Holdings Inc is nearing a deal to merge with a division of Ingersoll-Rand Plc, creating a business that would have an enterprise value, including debt, of about $15 billion, The Wall Street Journal reported on Sunday.
Source: www.reuters.com
Gardner Denver Holdings Inc. (NYSE: GDI) is nearing the close of a deal to merge with a division of Ingersoll-Rand Plc (NYSE: IR). This would be a cash and stock deal, which would create a business with enterprise value of around $15 billion. Gardner Denver Holdings, through its subsidiaries, manufactures vacuum systems, bottle blowers, pumps, and air and gas compressors. The transaction would be structured as a Reverse Morris Trust for tax savings.
