Background
Those of you like me with an interest in the Industrial sector may have noticed the recent announcement by SPX FLOW (FLOW) that it intends to sell its Power and Energy division. The management is so confident that the sale will be completed within a year that the division has already been listed as discontinued in the most recent half-yearly 10-Q. This confidence appears to be well grounded, with Bloomberg reporting private equity firms Apollo Global Management (APO) and First Reserve as potential buyers with an expected valuation of $700 million.
The Q2