CIRCOR to Review Crane’s Unsolicited Tender Offer

Source Press Release
Company Crane Co.CIRCOR International, Inc. 
Tags Corporate Deals, Deals, Oil Services
Date June 17, 2019

CIRCOR International, Inc. (NYSE:CIR) (“CIRCOR”) today confirmed that  Crane Co. (NYSE:CR) (“Crane”) has commenced an unsolicited tender offer to acquire all of the outstanding shares of CIRCOR common stock for $45 per share in cash.

Consistent with its fiduciary duties and in consultation with its independent legal and financial advisors, the CIRCOR board of directors will carefully review and evaluate Crane’s tender offer to determine the course of action that it believes is in the best interests of CIRCOR and its shareholders. CIRCOR shareholders do not need to take any action at this time.

The CIRCOR board of directors intends to make its recommendation with respect to the tender offer to shareholders within ten business days by making available to shareholders and filing with the Securities and Exchange Commission a Solicitation / Recommendation Statement on Schedule 14D-9.

Source: EvaluateEnergy® ©2019 EvaluateEnergy Ltd