Crane Co. (CR) to Divest Legacy Asbestos Liabilities
FREE Breaking News Alerts from StreetInsider.com!
StreetInsider.com Top Tickers, 7/13/2026
- Wall Street ends lower as Iran tensions dampen risk appetite; chipmakers drop
- SK Hynix’s record plunge drags down global chip stocks
- Oil up 9% to one-month high as US says it will blockade entire Iranian coastline, all vessels
- Ditching streaming could boost Disney stock by 40%, Wells Fargo says
- AstraZeneca stock dips as HSBC downgrades stock on 'tough path ahead'
Crane Holdings, Co. Announces Transaction to Divest Legacy Asbestos Liabilities
August 15, 2022 4:30 PM EDTKey Highlights
Announces sale of subsidiary holding all asbestos liabilities, related insurance assets, and approximately $550 million of cash Buyer is Spruce Lake Liability Management, a long-term liability management company specializing in the acquisition and management of legacy corporate liabilities Transaction permanently removes all asbestos related liabilities and obligations from Cranes balance sheet Will result in stronger annual free cash flow generation due to elimination of asbestos-related payments Creates greater focus on core businesses and value creation through capital deploymentSTAMFORD, Conn.--(BUSINESS WIRE)-- Crane Holdings, Co.... More
