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Parker-Hannifin $4.3 billion acquisition of Clarcor

1/12/2016
Public acquisition
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$ 4.3 billion

Announced

1/12/2016

Overview:

  • Motion and control technologies developer Parker-Hannifin has acquired filtration maker Clarcor in a $4.3 billion deal.
  • The price tag comes to $83 per share and includes Clarcor's debt.
  • The acquisition will be funded with $1.5 billion in cash and $3 billion in new debt.
  • Goldman Sachs acted as financial adviser for Clarcor.

Kurt Stumpo - Journalist

Jurisdiction:

United States

Deal type:

Public acquisition

Practice area:

M&A

Governing law:

United States

Industry sector:

Industrials and manufacturing

Firms:
Baker McKenzie

Party: Clarcor (Target)

Bass Berry & Sims

Party: Clarcor (Target)

Lawyers: Andrea Orr, J Page Davidson, Kevin Douglas

Jones Day

Party: Parker-Hannifin (Acquirer)

Lawyers: Bob Graves, Kimberly Pustulka, Pat Leddy

Sullivan & Cromwell

Party: Goldman Sachs (Financial adviser)

Lawyer: Stephen Kotran

Thompson Hine

Party: Parker-Hannifin (Acquirer)

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