Ingersoll Rand Confirms All-Cash Acquisition Offer Of $85/share For SPX Flow - Quick Facts

Ingersoll Rand Inc. (IR), a global provider of mission-critical flow creation and industrial solutions, confirmed on Monday that it made an all-cash non-binding proposal to the Board of Directors of SPX Flow, Inc. (FLOW) to acquire SPX Flow for $85 per share on June 10, 2021.

The proposal represents a 37% premium over last Friday's closing price and a premium of approximately 20% over SPX Flow's all-time high closing price.

On June 21, 2021, the SPX Flow Board of Directors rejected the proposal and declined Ingersoll Rand's request to engage in constructive dialogue, despite Ingersoll Rand's willingness to enter into a customary standstill and non-disclosure agreement. This follows the rejection by SPX Flow of a prior offer by Ingersoll Rand of $81.50 per share made on May 27, 2021.

Ingersoll Rand is confident that a definitive agreement could be completed in short order and without a financing contingency.

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