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Crane Announces EC Extends Review Period on Planned Acquisition of MEI Conlux from July 5 to July 19

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Crane Co. (NYSE: CR) said today that the European Commission has
extended its initial review period to rule on the planned acquisition of
MEI Conlux from July 5 to July 19, following proposals submitted by
Crane Co. to address antitrust concerns. The Company stated that the
Commission is focused on two product lines in the European market, and
the Company is engaged in discussions with the Commission regarding
potential remedies that would affect less than 10 percent of the
aggregate sales of the combined businesses. The Company remains hopeful
that these issues will be favorably resolved in the initial review
period.

Crane Co. also stated that the

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Posted-In: M&A News Guidance Contracts Asset Sales Management Global

 

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