KKR's $4B Bid Stiffs Gardner Denver Investors, Suit Says

Law360, New York (March 28, 2013, 6:45 PM EDT) -- KKR & Co.'s $3.9 billion bid to take Gardner Denver Inc. private is too low for one investor who filed a putative class action Wednesday against the industrial parts maker in Delaware state court.

Daniel White claims Pennsylvania-based Gardner Denver's growth potential is so strong that it makes KKR's $76-per-share offer inadequate, and accuses the company's board of directors of breaching their fiduciary duties to investors when it struck the deal in early March.

“On Feb. 9, 2012, the company announced record financial results for the...
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