Mining equipment and rolling stock supplier Bradken has received a takeover offer from private equity group Pacific Equity Partners and US-based Koch Industries valuing the company at $427 million. Bradken says it received an unsolicited indicative non-binding proposal to acquire the company at $2.50 per share, by way of a scheme of arrangement, on April 1. "The board of Bradken considered the proposal and determined that it does not represent fair value and accordingly determined not to engage further."