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Crane Co. manufactures engineered industrial products. It operates through the following business segments: Fluid Handling; Payment and Merchandising Technologies; Aerospace and Electronics; and Engineered Materials. Read More The Fluid Handling segment provides industrial fluid control products and systems. The Payment & Merchandising Technologies segment comprises of Crane Payment Innovations and Merchandising Systems. The Aerospace & Electronics segment supplies critical components and systems, including original equipment and aftermarket parts, primarily for the commercial aerospace and military aerospace and defense markets. The Engineered Materials segment manufactures fiberglass-reinforced plastic panels and coils, primarily for use in the manufacturing of recreational vehicles, truck bodies, truck trailers, with additional applications in commercial and industrial buildings. The company was founded by Richard Teller Crane on July 4, 1855 and is headquartered in Stamford, CT.
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Seeking AlphaMay 22
Crane ratings under review for downgrade at Moody's
This rating action follows the announcement that Crane (CR -0.5% ) launched a hostile take-over bid to acquire CIRCOR in a transaction that would be valued at more than $1.7B. The review for downgrade reflects the uncertainty regarding timing, transaction execution, price, integration risks and financial leverage resulting from the proposed acquisition of CICOR. The review process will focus on Crane's financial profile, ability to deleverage following the proposed acquisition and potential synergies....
Industrial Stocks Aren’t Afraid of the Oil Patch Anymore. Crane’s Bid Is Proof.
Text size Crane revealed an unsolicited bid for valve maker Circor Tuesday morning. The all-cash offerer values Circor stock at $45 a share, nearly 50% higher than the stock’s closing price on Monday. Circor (ticker: CIR) has lots of exposure to the energy sector and its stock has struggled recently as the price of oil has fallen. Crane’s (CR) bid might mean larger industrial companies are once again looking at the oil patch as a source of acquired growth. The back story. Circor stock has struggled, in p...
Seeking AlphaMay 21
Circor reiterates rejection of Crane takeover offer as undervalued
Circor (CIR +39.9% ) rejects Crane's (CR -1.2% ) hostile takeover proposal, saying the offer "substantially undervalued Circor and its future prospects, and did not constitute a basis for engaging in further dialogue with Crane at this time.
Expected Jul 22, After Hours