As of the last check, shares of the leading provider of process solutions SPX FLOW Inc. (FLOW) were rising 10.06% to $83.78. Friday session ended with FLOW stock at $76.12. On the day, SPX FLOW traded 0.32 million shares, which was higher than the average daily volume of 0.17 million shares over the past 50 days.

Since the beginning of the year, FLOW shares have increased by 93.59%, and they have gained by 22.60% over the last week. FLOW stock price has gained 11.96% over the past three months, and 38.07% over the past six months. The market value of FLOW is $3.22 billion, and the number of outstanding shares is 42.00 million. News of the company exploring strategic alternatives is driving up FLOW stock.

What are the alternatives that FLOW Stock is considering?

SPX FLOW is a Charlotte, N.C.-based company providing innovative solutions to the world. Flow’s product portfolio is focused on technologies for mixing, blending, fluid handling, separation, thermal heat transfer, and other operations vital to processes undertaken by organizations across a wide spectrum of markets, including nutrition, health, and precision manufacturing. SPX FLOW stock has sales and operations in more than 140 countries and has approximately $1.4 billion in 2020 revenue.

A review of strategic alternatives was authorized today by SPX FLOW’s Board of Directors.

• Alternatively, FLOW may be sold or merged, or its standalone strategy may continue to be employed.
• A proposal from Ingersoll Rand Inc. to purchase all outstanding shares of SPX FLOW common stock for $85.00 per share had been received and rejected by FLOW’s Board of Directors.
• Ingersoll Rand had previously proposed $81.50 per share in an unsolicited proposal.
• In consultation with its legal and financial advisors, and at the recommendation of an independent director committee for evaluation of the potential transaction, the FLOW stock Board concluded that the proposals did not adequately value the company in light of the potential for increased profits related to executing the company’s strategic plan.
• With the attention of additional interested parties, the board of FLOW believes the time is right to pursue a range of strategic alternatives aimed at bringing value to its shareholders.
• The Morgan Stanley is SPX FLOW’s financial advisor and Winston & Strawn LLP serves as its legal advisor.
• In collaboration with external advisors, FLOW plans to engage with various parties and share additional information regarding its plans for growth, subject to compliance with confidentiality and other security protocols.

FLOW’s further comments on the alternative strategy:

FLOW did not provide any timetable of the review process and said that the outcome cannot be guaranteed at this point. No further comments, including those made publicly, regarding this review will be made until the review is complete or until SPX FLOW determines that disclosure is necessary.