Parker Hannifin to acquire Clarcor; combination of two companies’ filtration businesses ‘highly complementary’




CLEVELAND, OH and FRANKLIN, TN , December 2, 2016-

Parker Hannifin Corporation (NYSE: PH) (“Parker”) and CLARCOR Inc. (NYSE: CLC) (“CLARCOR”), announced that the companies have entered into a definitive agreement under which Parker will acquire CLARCOR for approximately $4.3 billion in cash, including the assumption of net debt.

Under the terms of the agreement, Parker will purchase all of the outstanding shares of CLARCOR for $83.00 per share in cash. This represents a premium of approximately 17.8 percent to CLARCOR’s closing share price on November 30, 2016 and a premium of approximately 29.2 percent to CLARCOR’s volume weighted average share price over 90 days and a premium of approximately 17.1 percent to CLARCOR’s all-time and 52-week high. The transaction has been unanimously approved by the Board of Directors of each company.


Not a subscriber?









TRY Nonwovens Markets
Newsletter TODAY!

Subscribe