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I-R buys Clark for $86 per share
00:00 13 Apr 1995
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US construction equipment manufacturer, Ingersoll-Rand, is to buy
Clark Equipment for $86 per share - $9 per share more than expected
(see CJ, 6 April).
The directors of the two companies agreed the deal this week after the bid was increased - the deal is thought to be worth around $1.5 billion.
I-R president and chief executive, James E Perrella, said: 'We are delighted to add Clark's strong businesses and fine people to our own. This is a great fit. Clark's businesses complement Ingersoll-Rand's.'
Clark's subsidiaries include Melroe Europe, which makes Bobcat skid steers, and transmission manufacturer Clark Hurth. It also bought Blaw Knox , fighting off a bid by I-R. I-R will now get Blaw Knox.
The directors of the two companies agreed the deal this week after the bid was increased - the deal is thought to be worth around $1.5 billion.
I-R president and chief executive, James E Perrella, said: 'We are delighted to add Clark's strong businesses and fine people to our own. This is a great fit. Clark's businesses complement Ingersoll-Rand's.'
Clark's subsidiaries include Melroe Europe, which makes Bobcat skid steers, and transmission manufacturer Clark Hurth. It also bought Blaw Knox , fighting off a bid by I-R. I-R will now get Blaw Knox.
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