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Crane Co offers to buy Circor in $1.7 bln deal

May 21 (Reuters) - U.S. industrial products maker Crane Co said on Tuesday it has offered to buy smaller rival Circor International Inc in a deal valued at $1.7 billion.

Crane's cash offer of $45 per share represents a premium of about 47% to Circor's closing price on Monday. (Reporting by Ankit Ajmera in Bengaluru; Editing by Arun Koyyur)