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Arcline’s offer represents a premium of about 12% to the $51 per share offered by KKR.
Circor said on Tuesday it would proceed with plans to sell itself to private equity firm KKR in a $1.7 billion deal after snubbing an offer from an unnamed bidder, which sources identified as private equity firm Arcline Investment Management.
Arcline, which owns Fairbanks Morse Defense, is a provider of diesel engines and equipment to the U.S. Navy.
Circor, which makes flow-control products to help manage and control liquids and gases, did not immediately respond to Reuters request for a comment.
