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The
offer represents an equity value of nearly $1 billion, according
to Reuters' calculations. Circor, which has about 3,100
employees, makes pump and valve systems for sectors including
industrial, aerospace, defense, oil and gas.
The Wall Street Journal first reported the deal, citing people
familiar with the matter.
Circor did not immediately respond to a Reuters' request for a
comment.
In March last year, the company had flagged irregularities in
financial statements and roped in an independent accounting
firm, and had also engaged in preliminary discussions with
interested parties regarding a potential sale.
The transaction is expected to close in the fourth quarter of
2023.
(Reporting by Nathan Gomes and Priyamvada C in Bengaluru;
Editing by Savio D'Souza and Shinjini Ganguli)
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