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Slide #97. Crane Co — MEI Conlux Holdings
Crane Co (NYSE:CR)
MEI Conlux Holdings
Crane Co. (NYSE:CR), a diversified manufacturer of highly engineered industrial products, announced that it had reached an agreement with sellers of MEI Conlux Holdings ("MEI"), on revised terms for the acquisition of MEI. As previously announced, the European Commission cleared the pending acquisition of MEI conditioned upon Crane Co.'s entry into agreements satisfactory to the Commission to implement remedies regarding two product lines - divestiture of the B2B bill recycler product line and licensing in Europe for the Currenza C2 coin recycler product line, both manufactured and sold by Crane Co.'s Payment Solutions business, within its Merchandising Systems segment. The remedies would not affect the competing bill and coin recycler product lines of MEI.
Crane is a manufacturer of engineered industrial products. Co.'s segments are: Fluid Handling, which is a provider of engineered fluid handling equipment; Payment and Merchandising Technologies, which provides payment acceptance and dispensing products, currency handling and processing systems, and supplies banknotes and banknote security features; Aerospace and Electronics, which supplies components and systems for the commercial aerospace and military aerospace and defense markets; and Engineered Materials, which manufactures fiberglass-reinforced plastic panels and coils, primarily for use in the manufacturing of recreational vehicles, truck bodies, truck trailers.
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Buy (3.20 out of 4)