|Bid||84.56 x 1200|
|Ask||84.58 x 1000|
|Day's Range||83.95 - 85.14|
|52 Week Range||67.18 - 100.14|
|Beta (3Y Monthly)||1.52|
|PE Ratio (TTM)||14.81|
|Earnings Date||Jul 22, 2019|
|Forward Dividend & Yield||1.56 (1.83%)|
|1y Target Est||104.14|
Crane (CR) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Shares of Circor International Inc. tumbled 14% in premarket trading Monday, after Crane Co. said it will end efforts to buy the engineered products maker unless Circor makes "substantive engagement" this week. Crane said it will not extend its tender offer for Circor shares, which is scheduled to expire at midnight Eastern on July 19. Crane had raised its buyout bid for Circor last week to $48 a share from $45 a share, and Circor rejected it, saying it "substantially undervalues" the company. Circor's stock has rallied 17.3% over the past three months through Friday, while Crane shares have slipped 4.8% and the Dow Jones Industrial Average has gained 3.6%.
Due to failure of CIRCOR Board to engage in any discussions on behalf of CIRCOR shareholders, Crane Co. is ceasing its efforts to acquire CIRCOR and will not extend its $48 per share tender offer scheduled to expire on July 19, 2019. Crane Co. (CR), a diversified manufacturer of highly engineered industrial products, today announced that absent substantive engagement this week, it will cease its efforts to acquire CIRCOR and will not extend its tender offer, amended on July 8, 2019, to acquire all outstanding shares of CIRCOR for $48 per share. The tender offer is scheduled to expire at Midnight, New York City Time, on July 19, 2019.
Small-caps and large-caps are wildly popular among investors, however, mid-cap stocks, such as Crane Co. (NYSE:CR...
Circor International Inc. said Thursday its board has unanimously decided to reject the latest buyout bid by Crane Co. , saying it "substantially undervalues the company and is low-value, highly conditional and opportunistic." Earlier this week, Crane had raised its cash buyout bid for Circor to $48 a share, which would imply a market capitalization of $955.2 million, from $45 a share. Circor's stock has more than doubled (up 113.2%) year to date, while Crane shares have advanced 12.9% and the S&P 500 has gained 19.4%.
Carlisle's (CSL) buyout of Ecco Finishing is expected to expand CFT's portfolio of adhesives and sealants application equipment.
Crane Co. said Monday it has raised its cash buyout bid for flow control technology company Circor International Inc. by 6.7% to $48 a share from $45 a share. The new bid is 4.2% above Friday's stock closing price of $46.07. Circor had rejected the previous buyout bid, calling it "highly unrealistic." Circor responded by saying it will "carefully review and evaluate" the revised bid. Circor's stock has more than doubled (up 116%) year to date through Friday, while Crane shares have rallied 17% and the S&P 500 has gained 19%.
Crane Co. (CR), a diversified manufacturer of highly engineered industrial products, today announced that the Company has increased the price to be paid in its tender offer (“the Offer”) to purchase all outstanding shares of CIRCOR International, Inc. (CIR) (“CIRCOR”) to $48 per share in cash. Crane Co. also extended the Offer and withdrawal rights until midnight, New York City time, on July 19, 2019. The terms and conditions of the Offer, prior to the amendment described in this release, were set forth in the Company’s “Offer to Purchase” dated as of June 17, 2019 and “Letter of Transmittal” dated as of June 17, 2019, each as amended, and the other related materials that the Company distributed to stockholders, which were filed with the Securities and Exchange Commission (“SEC”) as exhibits to the Company’s Schedule TO.
Carlisle (CSL) is likely to benefit from its strong foothold in non-residential construction market and strength in aerospace and defense markets.
Strong flight activity, new project wins involving construction of additional capacity and related infrastructure work are expected to benefit Macquarie (MIC). High debt level is a concern.
Crane Co. announces the following schedule and teleconference information for its second quarter 2019 earnings release:
Danaher (DHR) plans to create a separate dental company Envista, which will be listed on the New York Stock Exchange, and is likely to employ 12,000 people globally.
Crane Co. said claims made by flow control technology company Circor International Inc. regarding its $45-a-share offer for the company are "highly unrealistic" and show why its all-cash offer is the best option for Circor's shareholders. Crane, a diversified manufacturer of engineered industrial products, was responding to Circor's rejection of its offer on Monday, when Circor said the offer substantially undervalues the company. "CIRCOR's short-term plan, while expected, is yet another set of empty promises," Crane Chief Executive Max Mitchell said in a statement. In May, Crane said it would pay $45 for each Circor share outstanding, which at the time represented a 47% premium. The deal was being valued at $1.7 billion. Then on June 17, Crane said it commenced a tender offer for Circor shares. Neither stock was active premarket. Circor shares have gained 115% in 2019, while the S&P 500 has gained 17.5%.
Crane Co. (CR), a diversified manufacturer of highly engineered industrial products, today filed a detailed response to CIRCOR International, Inc.’s (CIR) (“CIRCOR”) revised business plan. Crane Co.’s analysis underscores its belief that CIRCOR’s claims are highly unrealistic and illustrates why its superior, all-cash offer of $45 per share represents the best option for CIRCOR shareholders. Max Mitchell, Crane Co. President and Chief Executive Officer commented, “CIRCOR’s short-term plan, while expected, is yet another set of empty promises.
Circor International Inc. said Monday it has rejected the unsolicited buyout bid from Crane Co. given that it "substantially undervalues" the flow control technology company, and strongly urges shareholders not to tender shares into Crane's offer. In May, Crane said it would pay $45 for each Circor share outstanding, which at the time represented a 47% premium. The deal was being valued at $1.7 billion. Then on June 17, Crane said it commenced a tender offer for Circor shares. Circor said its plan to accelerate earnings growth, reduce debt and add "significant near-term value" for shareholders would be "far in excess" to Crane's buyout bid. Circor's stock, which was still inactive in premarket trading, has gained 15% over the past 12 months, while Crane shares have slipped 0.3% and the S&P 500 has advanced 7.1%.
Strong demand for sensors, guidance systems, commercial fire and security products, along with its portfolio transformation strategy is likely to drive Honeywell's (HON) revenues.
(Bloomberg) -- Crane Co. is ramping up pressure on rival Circor International Inc. by taking its $45-a-share takeover offer directly to the industrial product manufacturer’s shareholders.Crane has commenced an unsolicited, all-cash tender offer for the flow control equipment maker’s outstanding shares, Circor said in a statement Monday, confirming an earlier Bloomberg News report."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," the company said. The board intends to make a recommendation to shareholders on the offer within 10 business days.The tender offer, which would crystallize Crane’s unrequited overtures into a formal hostile takeover proposal, is aimed at forcing Circor’s management to the negotiating table to avoid facing the prospect of a shareholder referendum on the deal."This cash tender offer provides Circor shareholders the opportunity to send a clear message to the Circor board," Crane Chief Executive Officer Max Mitchell said in a statement Monday. "Circor shareholders have endured five years of underperformance and a series of value-destroying capital allocation decisions by current management."The offer represents about a 50% premium above Circor’s share price on May 20, the day before Bloomberg first reported Crane’s interest in acquiring it. Circor rose less than 1 percent to $45.02 at 12:55 p.m. in New York on Monday, valuing the Burlington, Massachusetts-based company at $896 million. Crane’s largest customers by revenue include Boeing Co. and Airbus SE, while Circor’s include Lockheed Martin Corp. and Exxon Mobil Corp.The push comes almost two weeks after Mitchell criticized Circor’s board for refusing to engage in merger talks despite a series of offers to do so. In a letter dated June 4, Mitchell said Circor’s board had “provided no significant rationale for its rejection,” calling it a “disservice to Circor shareholders.”In the same letter, Mitchell said Crane was willing to improve the terms of its $45-a-share offer should Circor decide to engage.Mario Gabelli, chairman of Gamco Investors Inc., which owns 15.2% of Circor’s stock and is the largest investor, has also criticized the board’s failure to engage with Stamford, Connecticut-based Crane.In an interview last month, Gabelli said “there is no way you could talk about this as proper governance.”(Updates with comment from Crane CEO in fifth paragraph.)To contact the reporter on this story: Ed Hammond in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Elizabeth Fournier at email@example.com, Kevin MillerFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
U.S. industrial manufacturer Crane Co on Monday said it continues to prefer a "negotiated transaction" with Circor International Inc's board, weeks after making a $894 million hostile bid for the smaller rival. Earlier this month, Crane said it was willing to adjust its $45 per share offer for Circor if its board was willing to engage in talks. On Monday, Crane began a tender offer for all outstanding shares of Circor and called on Circor shareholders to act on the opportunity.
U.S. industrial manufacturer Crane Co on Monday began a tender offer for all outstanding shares of smaller rival Circor International Inc at $45 per share, after its buyout offer was rejected by Circor's board. Crane, which makes pumps and valves, said it continues to prefer a negotiated transaction with Circor's board of directors. Crane Chief Executive Officer Max Mitchell said the tender offer provides shareholders the opportunity to send a clear message to the Circor Board.
Industrial products maker Crane Co. said Monday it has commenced a tender offer to acquire all outstanding shares of Circor International Inc. , a technology products and sub-systems company, for $45 per share in cash or about $1.7 billion. The offer is scheduled to expire at 5.00 p.m. ET on July 16, unless it is extended. The move comes after an initial proposal was made in April and rejected by Circor in May. "We are commencing this cash tender offer to provide CIRCOR shareholders a mechanism to show their support for our offer by tendering their shares," Crane Chief Executive Max Mitchell said in a statement. "We call on CIRCOR shareholders to act now on this opportunity and we call on the CIRCOR Board to honor its fiduciary responsibilities and allow the shareholders it represents to receive the highly attractive premium we are offering." The $45 price is equal to a 47% premium over the undisturbed market close on May 20, before Crane went public with the deal. Circor shares were not active premarket, but have gained 110% in 2019, while the S&P 500 has gained 15%.
Crane Co. (CR), a diversified manufacturer of highly engineered industrial products, today commenced a cash tender offer to acquire all of the outstanding shares of CIRCOR International, Inc. (CIR) (“CIRCOR”) for $45 per share, a 47% premium over the undisturbed market close on May 20, 2019, prior to Crane making its proposal to acquire CIRCOR public. The offer represents 31% and 51% premiums over the three- and six-month undisturbed volume weighted average share prices, respectively.
The Chicago-based jet maker said that more than 90 percent of Boeing’s T-X will be made with parts and components in America, supporting more than 17,000 jobs in 34 states.
Like a puppy chasing its tail, some new investors often chase 'the next big thing', even if that means buying 'story...