Parker-Hannifin (PH) has agreed to acquire Circor’s aerospace and defense unit from KKR (KKR) for over $2.5B, a deal that delivers a strong return on KKR’s 2023 buyout while remaining a relatively modest acquisition for Parker-Hannifin given its $100B+ market capitalization, The Wall Street Journal’s Lauren Thomas reports. An announcement could come as soon as this week, people familiar with the matter say.
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