SPX Corp., which ended talks to buy equipment maker Gardner Denver Inc. last year, is poised to become a target itself after activist Relational Investors LLC urged it to shed assets and focus on industrial pumps.
3M Co., the manufacturer whose new chief executive officer has said he’s considering larger deals, agreed to buy Ceradyne Inc. for $860 million to expand into ceramics used in energy, aerospace and defense industries.
Invensys Plc, the engineering company whose takeover discussions with Emerson Electric Co. broke down last year, is becoming more palatable for acquirers after shedding its railroad division and reducing pension liabilities.
Siemens AG said its joint bid with Mitsubishi Heavy Industries Ltd. for Alstom SA’s energy operations trumps a competing offer from General Electric Co., as the German manufacturer tries to win the backing of the board and the French state.
General Electric Co., buoyed by demand for jet engines and locomotives, assured investors that its industrial business is poised to meet a goal for profit- margin growth and saw its shares climb to a five-year high.