July 22, 2000 |
Cleveland conglomerate Parker Hannifin Corp. said Friday it has completed its cash acquisition of Wynn's International Inc., Orange-based maker of automotive and industrial sealing components. The New York Stock Exchange suspended trading in Wynn's stock and will move to delist the shares. Wynn's has about 5,000 employees worldwide, but only 13 were assigned to the company's headquarters. Parker Hannifin's stock rose 38 cents to $38.31 on the New York Stock Exchange.
June 15, 2000 |
Wynn's International Inc.'s shares surged Wednesday, a day after Cleveland conglomerate Parker Hannifin Corp. said it agreed to buy the Orange-based company at a significant premium. But shares of the conglomerate, Parker Hannifin Corp., headed in the opposite direction. Wynn's stock climbed more than 69%, or $9.25 a share, to $22.63, after the company agreed to a $23-a-share buyout offer. Parker Hannifin's stock dropped $2.56, or 6%, to $37.94.
June 14, 2000 |
Wynn's International Inc., a supplier of automotive gaskets, sealing products and specialty chemicals headquartered in Orange, is being acquired by a Cleveland conglomerate for $438 million in cash. Parker Hannifin Corp., which manufactures industrial sealing products and is involved in other manufacturing operations, said Tuesday it will pay $23 a share, nearly 72% higher than the stock's closing price.
January 18, 2000
* Parker Hannifin Corp., the world's biggest maker of hydraulic equipment, said it will buy Commercial Intertech Corp. of Youngstown, Ohio, for $366 million in cash and stock, and assume $107 million in debt. Parker Hannifin, based in Cleveland, makes motion-control equipment and fluid systems that are used in everything from jet engines to amusement park rides to sets for movies such as "Titanic."
July 14, 1998 |
Parker Hannifin Corp., a maker of industrial controls and semiconductor-making equipment, said it bought closely held Veriflo Corp. for an undisclosed amount of cash to expand its line of gas valves and regulators. Cleveland-based Parker Hannifin said Veriflo had 1997 revenue of $65.4 million and has manufacturing plants in Richmond, and Carson City, Nev. Richmond-based Veriflo also has sales offices in Brussels; Glasgow, Scotland; Singapore; and Shanghai.
January 21, 1996
Parker Hannifin Corp. has signed an agreement to acquire the Abex/NWL division of Pneumo Abex Corp. for about $193 million in cash. The Kalamazoo, Mich., division, which makes aerospace hydraulic equipment, will become part of Parker Hannifin's Irvine unit, Parker Bertea Aerospace. The transaction is expected to be completed in April.