Crane Co/DE – ‘SC 14D1’ on 2/17/94 re: Eldec Corp – EX-7

As of:  Thursday, 2/17/94   ·   Accession #:  912057-94-589   ·   File #:  5-37956

in

this entire Filing. an “Entity” Search.

Show

Documents searched

and

each “hit”. the 1st “hit”.

↓↑Hints

Tender-Offer Statement — Third-Party Tender Offer   —   Schedule 14D-1
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: SC 14D1     Tender-Offer Statement -- Third-Party Tender Offer     8     34K 
 2: EX-1        Exhibit (A)(1)                                        37    197K 
 9: EX-1        Exhibit (C)(1)                                        86    190K 
 3: EX-2        Exhibit (A)(2)                                        12     53K 
10: EX-2        Exhibit (C)(2)                                        11     39K 
 4: EX-3        Exhibit (A)(3)                                         2     14K 
11: EX-3        Exhibit (C)(3)                                         6     20K 
 5: EX-4        Exhibit (A)(4)                                         2     13K 
 6: EX-5        Exhibit (A)(5)                                         3     14K 
 7: EX-6        Exhibit (A)(6)                                         4±    16K 
 8: EX-7        Exhibit (A)(7)                                         1      7K 

EX-7   —   Exhibit (A)(7)

EX-7
TOC
↑Top
Previous
Next
↓Bottom
Just 1st
 
[CRANE LOGO]                                                                    

                                                         FOR IMMEDIATE RELEASE

CRANE CO. TO ACQUIRE ELDEC CORPORATION

STAMFORD, CONNECTICUT -- February 11, 1994 -- Crane Co. of Stamford,  
Connecticut and ELDEC Corporation of Lynnwood, Washington jointly announced     
today that they had signed a definitive merger agreement whereby a subsidiary of
Crane will commence a tender offer at $13.00 per share in cash for all          
outstanding shares of common stock of ELDEC.  The tender offer upon completion, 
will be followed by a merger in which any nontendering stockholders will have   
the right to obtain $13.00 per share in cash.                                   

    As part of the transaction, Crane has signed agreements with certain ELDEC
shareholders to purchase approximately 51% of the outstanding ELDEC shares at   
$13.00 per share.  ELDEC has approximately 5,695,647 shares outstanding.        

ELDEC stated that it board of directors had approved the offer and    
recommended its acceptance.  Morgan Stanley & Co. Incorporated acted as         
financial adviser to ELDEC.                                                     

    The tender offer will be commenced on or before Friday, February 18, 1994,
and an offer to purchase and related letter of transmittal will be mailed to all
shareholders.                                                                   

ELDEC custom designs and manufactures electronic and electromechanical
systems for aerospace and defense applications.  Founded in 1957, ELDEC is a    
subcontractor to a large number of major aerospace and defense electronics      
contractors.                                                                    

   Crane Co. is a diversified manufacturer of engineered industrial products
serving niche markets in the aerospace, fluid handling, automatic merchandising 
and the construction industry.  Crane's wholesale distribution business serves  
the building products market and industrial customers.                          

Dates Referenced Herein

This ‘SC 14D1’ Filing		Date		Other Filings
		2/18/94		None on these Dates
Filed on:		2/17/94
		2/11/94
				List all Filings