Parker-Hannifin Is Said in Talks to Acquire Filtration Group

Parker-Hannifin Corp. is in talks to buy Filtration Group from Madison Industries, according to people familiar with the matter.

An acquisition could be announced as soon as this week, said the people, who asked to not be identified because the discussions are private. Filtration Group could be valued at close to $9 billion, including debt, one of the people said.

A final agreement hasn’t been reached and details including the timing could still change, or another suitor might emerge, the people said.

Representatives for Parker-Hannifin, Madison Industries and Filtration Group didn’t immediately respond to requests for comment.

If completed, a ...