SPX FLOW Confirms Rejection Of $85/shr Proposal From Ingersoll Rand

(RTTNews) - SPX FLOW Inc. (FLOW), a provider of process solutions, confirmed its board rejected $85.00 per share non-binding buyout proposal from Ingersoll Rand Inc. (IR), saying that the offer significantly undervalues SPX FLOW and its future growth prospects and is not in the best interests of SPX FLOW and its shareholders.

SPX FLOW said it is confident that the continued successful execution of its strategic plan will deliver greater value to shareholders.

SPX FLOW noted that it is in a quiet period and will provide an update on progress of the strategic plan during its second quarter 2021 financial results call to be held at on August 4, 2021.