Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Speculating in Takeover Targets -- Ignore unavailable to you. Want to Upgrade?

To: richardred who wrote (5228)	7/15/2019 12:11:49 PM
From: richardred	Respond to of 7259

Seemed like a nice premium. Circor Stock Falls After Company Rejects Crane's Boosted $955 Million Bid. Circor shares were lower after its board rejected Crane's sweetened $955 million hostile offer. Cherella Cox Jul 11, 2019 1:08 PM EDT Circor's ( CIR - Get Report) shares were trading 8.4% lower at $41.62 Thursday after its board rejected Crane's ( CR - Get Report) sweetened $955 million hostile bid. The Burlington, Mass., company called Crane's offer "low-value, highly conditional and opportunistic." Circor said in a Thursday statement, "Execution of the company's strategic plan will deliver significantly greater value in the near and long term." A merger would bring together two producers of valves and fluid-control components. Crane also produces vending machines, airplane brakes and other industrial products. Crane on Monday increased its offer for Circor, boosting its bid by nearly 7% to $48 a share cash. In a statement Crane said the sweetened offer is a 57% premium over the stock's May 20 close, and about 46% above the three-month and 61% above the six-month volume-weighted average share prices. Stamford, Conn.-based Crane's shares were up less than 1% to $81.54. Circor shares fell the most since May 7, though they are up more than 92% year to date. thestreet.com