Gardner Denver, Inc. has announced that at a special meeting Gardner Denver shareholders voted overwhelmingly to approve the proposed definitive merger agreement with Kohlberg Kravis Roberts & Co. L.P.
The transaction follows a months-long review by the Gardner Denver Board of Directors, including a comprehensive sale process leading up to the transaction with KKR. Approximately 97% of the shares voting at the special meeting voted in favor of the adoption of the merger agreement.
Upon completion of the merger, valued at approximately $3.9 billion, Gardner Denver shareholders will receive $76 per share in cash from KKR for each share of Gardner Denver common stock they own as of the effective time of the merger.
Gardner Denver, Inc., with 2012 revenues of approximately $2.4 billion, is a leading worldwide manufacturer of compressors, liquid ring pumps and blowers for various industrial, medical, environmental, transportation and process applications, pumps used in the petroleum and industrial market segments and other fluid transfer equipment, such as loading arms and dry break couplers, serving chemical, petroleum and food industries.