CLEVELAND (July 21)—Parker Hannifin Corp. has completed its tender offer for the outstanding shares of seal manufacturer, Wynn´s International Inc., Parker said. Between June 22 and July 20, 18,262,997 shares of Wynn´s were tendered and not withdrawn, representing about 97.6 percent of Wynn´s outstanding stock. Parker will pay $23 per share for Wynn´s and assume $59 million in outstanding debt for a total acquisition cost of $497 million. The purchase will make Parker Seals Group the third largest sealing and gasket manufacturer in the world and increase its involvement in the automotive sector.
Parker Hannifin completes tender offer for Wynn´s
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