Parker Hannifin Corporation has completed its acquisition of CLARCOR Inc. for approximately $4.3 billion in cash, including the assumption of net debt. According to the company, the strategic transaction creates a combined organization with a comprehensive portfolio of filtration products and technologies, offering customers a single streamlined source for all their purification and separation needs.
Under the definitive agreement signed on December 1, 2016, Parker has purchased all outstanding CLARCOR shares for $83 per share in cash. The transaction is expected to be accretive to Parker’s cash flow, earnings per share and earnings before tax, interest, depreciation and amortization, after adjusting for one-time costs.