Exclusive: SPX closes in on $4.2 billion Gardner Denver deal NEW YORK (Reuters) - Industrial machinery maker SPX Corp is closing in on a roughly $4.2 billion deal to buy rival Gardner Denver Inc, as it makes progress in securing financing, a source familiar with the matter said on Tuesday. A deal could value Wayne, Pennsylvania-based Gardner Denver at about $85 per share, the source said. Gardner Denver's shares closed at $73.68 on Tuesday. SPX has a market value of $3.23 billion, compared to $3.62 billion for Gardner Denver. SPX's financial advisor Credit Suisse Group AG has been joined by Bank of America Corp and JPMorgan Chase & Co in efforts to raise debt for the deal, the source said on condition of anonymity because the talks are confidential. A deal could value Wayne, Pennsylvania-based Gardner Denver at about nine times estimated 2012 earnings before earnings, tax, depreciation and amortization, the source said, cautioning details had yet to be finalized. A deal announcement could come as early as this week though no final agreement has yet been reached and negotiations could still fall apart, the source added. Depending on the availability of financing, SPX shareholders may be called on to vote on a capital increase to finance the share portion of the bid, the source said. A Gardner Denver spokesman declined to comment while SPX did not immediately respond to a request for comment. Credit Suisse, JPMorgan and Bank of America declined to comment. Reporting by Greg Roumeliotis in New York; Editing by Ryan Woo