Benzinga | Jul 26, 2021 01:01PM EDT

SPX Flow Shares Gain As It Explores Strategic Options

* SPX Flow Inc (NYSE:FLOW) reviews strategic alternatives, including a possible sale of the company.

* Recently, the company received and rejected a revised $85 per share proposal from Ingersoll Rand Inc. (NYSE:IR). Ingersoll Rand's original offer on May 27, 2021, was $81.50 per share for SPX Flow.

* Considering the additional inquiries from interested parties, the Board believed it is appropriate to initiate its review of a broad range of strategic options.

* It expects to engage with multiple parties with the assistance of outside advisors.

* Morgan Stanley & Co. LLC serves as SPX FLOW's financial advisor, and Winston & Strawn LLP is acting as its legal advisor.

* Price action: FLOW shares are trading higher by 8.84% at $82.85 on the last check Monday.