CIRCOR International (CIR) approached by Crane (CR)

  • May 22, 2019

POTENTIAL DEAL DETAILS

StockCIRCOR International, Inc.SymbolCIR
Date Announced05/21/2019Source Press release
TypeUnsolicited BidAcquiring Company/Person Crane Co.

Crane Co. (CR), a diversified manufacturer of highly engineered industrial products, today announced that it has submitted a proposal to the Board of Directors of CIRCOR International, Inc. (CIR) to acquire CIRCOR for $45 per share in cash.

Update(s):

May 21, 2019: CIRCOR International, Inc. (CIR) today confirmed that it has previously received and rejected an unsolicited, non-binding proposal from Crane Co. (CR) to acquire all the outstanding shares of CIRCOR common stock for $45 per share in cash.

June 04, 2019: Crane Co. (CR), a diversified manufacturer of highly engineered industrial products, today sent a letter to the Board of Directors of CIRCOR International, Inc. (CIR) in which Crane Co. (CRreaffirmed its desire to enter into meaningful discussions regarding a transaction that would provide a significant premium for CIRCOR shareholders.

June 17, 2019: Crane Co. (CR) is preparing to ramp up pressure on rival Circor International Inc. (CIR) by taking its $45-a-share takeover offer directly to the industrial product manufacturer’s shareholders, according to people familiar with the matter.

July 08, 2019: Crane Co. (CR), a diversified manufacturer of highly engineered industrial products, today announced that the Company has increased the price to be paid in its tender offer to purchase all outstanding shares of CIRCOR International, Inc. (CIR) to $48 per share in cash.

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