Why SPX Flow Stock Is Soaring Higher Today
Shares of SPX Flow (NYSE: FLOW) climbed as much as 13% on Monday after the company said it was exploring a possible sale. We already know at least one potential buyer has expressed interest in SPX, and the company has now hired bankers to see what other offers might be out there.
SPX Flow is a maker of tools that allow for precise measuring and flow, with more than 20 brands making products for industrial and health uses.
On Monday, the company said it has retained Morgan Stanley to review strategic alternatives. It said it has received an unsolicited proposal to be acquired by Ingersoll Rand (NYSE: IR) for $85 per share, but said that offer was rejected.
Source Fool.com
