8-KOther EventsExhibits & Filings

DOVER Corp 8-K Report, Corporate Update (Sep 29, 2011)

Filed September 29, 2011For Securities:DOV

Summary

Dover Corporation (DOV) announced on September 29, 2011, the completion of the sale of its Crenlo, LLC and Paladin Brands divisions to KPS Capital Partners, LP. The total proceeds from this divestiture amount to $290 million, subject to customary post-closing adjustments. This strategic move represents a significant step in the company's portfolio management. Investors should note that Dover Corporation expects to recognize a loss on the sale, estimated at approximately $0.35 per diluted share. This loss will be classified within discontinued operations in the company's third-quarter 2011 financial results. The sale marks a notable event for DOV, impacting its financial reporting for the current quarter and signaling a potential shift in its business focus.

Key Highlights

  • 1Dover Corporation completed the sale of Crenlo, LLC and Paladin Brands.
  • 2The buyer of these divisions is KPS Capital Partners, LP.
  • 3Total proceeds from the sale are $290 million, subject to adjustments.
  • 4The company anticipates a loss on the sale of approximately $0.35 per diluted share.
  • 5The loss will be reported as part of discontinued operations for Q3 2011.
  • 6The transaction was announced via a press release dated September 29, 2011.
  • 7This 8-K filing was made on September 29, 2011.

Frequently Asked Questions

Dover Corporation sold its Crenlo, LLC and Paladin Brands divisions.

KPS Capital Partners, LP acquired Crenlo, LLC and Paladin Brands.

The total proceeds from the sale were $290 million, subject to normal post-closing adjustments.

Dover Corporation anticipates recognizing a loss on the sale of approximately $0.35 per diluted share, which will be reported as part of discontinued operations in its third-quarter 2011 results.