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Stock Market & Financial Investment News

News Breaks
December 21, 2012
05:09 EDTCRCrane to acquire MEI Conlux Holdings for approximately $820M
Crane announced that it has signed an agreement to purchase 100% of the equity interests in MEI Conlux Holdings and its affiliate MEI Conlux Holdings from Bain Capital and Advantage Partners. The purchase price is approximately $820M on a cash free and debt free basis, representing 9.6 times MEI's estimated 2012 EBITDA of $85M. MEI, a leading provider of payment solutions for unattended transaction systems, serves customers in the transportation, gaming, retail, service payment and vending markets.
News For CR From The Last 14 Days
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February 12, 2016
10:11 EDTCRJury finds Crane partially to blame for death of man exposed to asbestos
A Philadelphia federal court jury has awarded $1.09M in damages to the estate and widow of a millwright from Zelienople, Pennsylvania, who died of mesothelioma after working with asbestos products as part of his job. Valent Rabovsky died less than three years after being diagnosed with mesothelioma, a deadly cancer caused by exposure to asbestos. Jurors in the U.S. District Court for the Eastern District of Pennsylvania returned their verdict Feb. 9 following an eight-day trial and four hours of deliberations. The jury found that Crane was 30% liable for Mr. Rabovsky's death. Crane manufactured industrial valves with asbestos-containing gaskets and packing, which Rabovsky handled regularly while working as a millwright from 1951 to 1986 at various sites in Pennsylvania. He was diagnosed with mesothelioma in September 2009 and died in June 2012 at the age of 88. Jurors assessed 70% liability for his asbestos exposure against seven other companies that were no longer named as defendants in the lawsuit. A hearing on the eventual final judgment is scheduled for April.

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