SPX FLOW, Inc. (NYSE: FLOW) announced that its Board of Directors has authorized a review of strategic alternatives, including a possible sale or merger of the Company and the continued execution of the Company's standalone strategy. Previously, the Company announced that its Board of Directors had received and rejected an unsolicited, conditional, non-binding proposal from Ingersoll Rand Inc. (NYSE: IR) to acquire all outstanding shares of SPX FLOW common stock for $85.00 per share. This followed a similar unsolicited proposal from Ingersoll Rand for $81.50 per share. After careful review with its legal and financial advisors, and with the recommendation of a committee of independent directors formed to evaluate the potential transaction, the Board concluded that the proposals did not adequately value the Company in light of the Board's confidence in the potential for increased profit margins and growth associated with the Company's successful execution of its strategic plan. As a result of additional inquiries received from interested parties, the Board believes it is appropriate to initiate its review of a broad range of strategic alternatives with the goal of delivering the most value to our shareholders. With the assistance of outside advisors, the Company expects to engage with multiple parties and, subject to customary confidentiality and other protections, share additional information relating to the Company and its growth plans. No assurances can be given regarding the outcome or timing of the review process. SPX FLOW does not intend to make any further public comment regarding the review until it has been completed or the Company determines that disclosure is required or appropriate. Morgan Stanley & Co. LLC is serving as SPX FLOW's financial advisor and Winston & Strawn LLP is acting as its legal advisor.