Wednesday, February 3, 2010

Crane completes tender offer for Merrimac Industries

By Mass High Tech staff

Video Gallery

MHT's Galen Moore: Honoring innovation in New England

MooBella provides on-demand ice cream demo

MHT's Efrain Viscarolasaga: Tech companies may have to wait for stimulus funds

Related News

GTC Biotherapeutics to be delisted from Nasdaq [March 12, 2010]

Fluidnet rounds out $17M backing for IV fluid pumps [March 12, 2010]

Aveo Pharmaceuticals prices IPO at $81M [March 12, 2010]

Techstars Boston adds $450K, outlines incubator progress [March 12, 2010]

Sensata welcomes first-day trading with gain [March 12, 2010]

Industrial engineering product manufacturer Crane Co. has completed a tender offer for New Jersey-based Merrimac Industries Inc., a designer and manufacturer of RF Microwave signal processing components and subsystem assemblies.

Crane took in 92.5 percent of Merrimac common stock shares outstanding, through its acquisition of 2.8 million tendered Merrimac shares. A short-form merger is expected to seal the acquisition deal, Crane officials said in a news release.

Stamford, Conn.-based Crane (NYSE: CR) was founded in 1855 and makes industrial products for the aerospace, electronics, hydrocarbon processing, petrochemical, chemical, power generation, automated merchandising, transportation and other markets.

Merrimac Industries, which has about 210 employees, serves the defense, satellite communications, commercial wireless and homeland security markets.