Parker to Acquire Filtration Company CLARCOR

Parker Hannifin Corp., Cleveland, Ohio, and CLARCOR Inc., Franklin, Tenn., announced that the two companies have entered into a definitive agreement under with Parker will acquire CLARCOR for approximately $4.3 billion in cash, including assumption of net debt. CLARCOR is a marketer and manufacturer of mobile, industrial, and environmental filtration products with annual sales of approximately $1.4 billion and 6,000 employees worldwide. The transaction is expected to be completed by or during the first quarter of Parker’s fiscal year 2018 and is subject to customary closing conditions, including approval by CLARCOR’s shareholders and receipt of applicable regulatory approvals.