Crane Co. (CR) - NYSE
  • Aug. 1, 2013, 5:27 PM
    • Crane (CR) reaches an agreement with sellers on revised terms to acquire MEI Conlux Holdings.
    • Under the revised agreement, the purchase price will be approximately $804B on a cash free and debt free basis, compared to the previously announced price of $820M, and the company will share in one-third of any refinancing costs incurred by MEI as a result of the delayed closing - up to a maximum of $5M.
    • CR will also be responsible for implementing the divestiture and licensing remedies pursuant to the conditions of the European Commission clearance and will retain any proceeds thereof.
    • The acquisition is expected to close in Q4.
    | Aug. 1, 2013, 5:27 PM
  • Dec. 21, 2012, 9:29 AM

    Crane (CR) agrees to buy MEI Conlux Holdings and its Japanese affiliate for ~$820M from PE firms Bain Capital and Advantage Partners to widen its base in making machines that can handle money through automated mechanisms. Crane expects MEI to add ~$0.25 to EPS within the first year.

    | Dec. 21, 2012, 9:29 AM
Company Description
Crane Co. manufactures engineered industrial products. It provides products and solutions to customers in the aerospace, electronics, hydrocarbon processing, petrochemical, chemical, power generation, automated merchandising, transportation, and other markets. It operates its business through... More
Industry: Diversified Machinery
Country: United States