July 19 (Reuters) - Ingersoll Rand Inc on Monday confirmed that smaller rival SPX Flow Inc declined the latest $3.59 billion non-binding offer from the U.S. industrial compressors and pumps maker.
Reuters reported on Sunday that SPX Flow had rebuffed takeover approaches from Ingersoll Rand.
Ingersoll first offered to buy SPX Flow in May for $81.50 per share, which was revised to $85 per share in June. But SPX Flow rejected both offers and declined to "engage in constructive dialogue", Ingersoll said.
Ingersoll's latest offer represents a premium of about 37% to SPX Flow's closing price on Friday.
"While we had hoped to complete a transaction privately, we remain committed to engaging with SPX Flow on a friendly basis and in a constructive and collaborative manner," Ingersoll Rand Chief Executive Officer Vicente Reynal said in a statement. (Reporting by Ankit Ajmera in Bengaluru; Editing by Shinjini Ganguli)
