Crane Co. announced it has completed the acquisition of MEI Conlux Holdings.
The preliminary agreement was announced Dec. 21, 2012 that Crane Co. would purchase MEI Conlux Holdings, Inc. for $820 million from Bain Capital and Advantage Partners. On Aug. 2, 2013, Crane Co. revised purchase terms to acquire MEI for $804 million on a cash free and debt free basis.
On Dec. 6, 2013, the European Commission approved definitive agreements to implement the licensing and divestiture commitments by Crane Co.
Crane Co. will provide additional information concerning MEI on Jan. 27, 2014, in connection with its fourth quarter earnings release and on Feb. 27, 2014, during its Annual Investor Day Conference.