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"It is hard for us to imagine how Circor’s board and management are not engaging with us to negotiate a transaction to deliver significant value to their shareholders," said Max Mitchell, president and CEO of Crane.
After Circor's board rejected Crane's takeover bid, Crane President and CEO Max Mitchell derided that company's short-term plans as "yet another set of empty promises."
The results included the firm’s December acquisition of Crane Currency, a Boston company that for nearly 140 years has supplied the paper used to make U.S. currency, for $800 million.