Ingersoll Rand Inc. (NYSE:IR) offered to acquire SPX FLOW, Inc. (NYSE:FLOW) for $3.5 billion on May 27, 2021. Under the terms of the transaction, Ingersoll offered $81.50 per share for all of the outstanding shares. The offer was subsequently rejected by SPX Flow. As on June 10, 2021, Ingersoll Rand Inc. (NYSE:IR) made a sweetened offer to acquire SPX FLOW, Inc. (NYSE:FLOW) for $3.7 billion. The offer per share was increased to $85.

Ingersoll Rand Inc. (NYSE:IR) cancelled the acquisition of SPX FLOW, Inc. (NYSE:FLOW) on June 21, 2021. The transaction was cancelled due to rejection by the SPX Flow Board of Directors. Morgan Stanley & Co. LLC acted as financial advisor and Winston & Strawn LLP acted as legal advisor to SPX FLOW.