Circor accepts KKR $1.7bn offer

Industrial machine maker Circor International on Tuesday said it had accepted a revised offer from investment firm KKR for $1.7bn to take the company private.

KKR's cash offer of $51 per share was up from its previous $49 per share proposal.

The improved offer comes after Circor received an unsolicited buyout proposal from a third party for $52.65 a share in cash.