ITT Said to Near $4.5 Billion-Plus Deal for Lone Star’s SPX Flow

ITT Inc. is in advanced talks to buy SPX Flow Inc. in a transaction valuing the industrial equipment manufacturer at more than $4.5 billion, according to people familiar with the matter.

A deal for the Charlotte, North Carolina-based company backed by Lone Star Funds could be announced within days, said the people, who asked not to be identified because the information was private.

A final agreement hasn’t been reached and talks could still end without one, or details including the timing could change, the people said. Representatives for ITT, SPX Flow and Lone Star didn’t immediately respond to requests for ...