Article: Crane Closes Interpoint Acquisition

STAMFORD, Conn., Oct. 16 /PRNewswire/ -- Crane Co. (NYSE: CR) announced today that it had closed the acquisition of the microelectronics business of Interpoint Corporation. As previously announced, the transaction was a tax- free merger in which Crane issued shares of Crane Common Stock for all of the outstanding shares of Interpoint stock. Immediately following the spin-off by Interpoint of its Advanced Digital Information Corporation subsidiary. The aggregate purchase price was $59 million which, after deduction of approximately $26 million in Interpoint debt and certain other ...

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