$2.55 Billion Deal: Parker-Hannifin to Acquire KKR-Owned Circor
PH sits 34% above its 52-week low of $637.21.
Summary
Parker-Hannifin will acquire Circor, a company currently owned by investment firm KKR, for $2.55 billion. This represents a significant strategic acquisition for Parker-Hannifin, expanding its industrial portfolio and impacting its future financial performance. For KKR, the sale is a substantial realization of value from one of its portfolio companies, following other recent divestments like CoolIT Systems for $4.75 billion and the successful close of its largest-ever Americas private equity fund at $23 billion.
At the time of this announcement, PH was trading at $853.13 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $108.4B. The 52-week trading range was $637.21 to $1,034.96. This news item was assessed with neutral market sentiment and an importance score of 9 out of 10. Source: Reuters.