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Parker-Hannifin completes purchase of CLARCOR

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Parker-Hannifin completes purchase of CLARCOR

Parker-Hannifin Corp. on Feb. 28 closed its acquisition of CLARCOR Inc. for a transaction value of $4.32 billion.

The company offered $83 per share for the stake.

In addition to general closing conditions, the deal required additional review for antitrust concerns.

Morgan Stanley & Co. LLC was the financial adviser for Parker-Hannifin, and Jones Day and Thompson Hine LLP were the legal advisers.

Goldman Sachs & Co. LLC was the financial adviser for CLARCOR, while Baker & McKenzie LLP, Bass Berry & Sims PLC and Morris Nichols Arsht & Tunnell LLP were the legal advisers.