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Article: Crane Closes Interpoint Acquisition
- Article from:
- PR Newswire
- Article date:
- October 16, 1996
CopyrightCOPYRIGHT 1996 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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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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