Crane Company (NYSE: CR) entered into an agreement to acquire Precision Sensors & Instrumentation Product Line of Baker Hughes Company for approximately $1.15 billion.

Published: 2025-06-09 09:35:33 ET CR

Published on 06/09/2025 at 09:35

Crane Company (NYSE:CR) entered into an agreement to acquire Precision Sensors & Instrumentation (PSI) Product Line of Baker Hughes Company (NasdaqGS:BKR) for approximately $1.15 billion on June 9, 2025. The cash consideration of $1.06 billion is the adjusted value after tax benefits with an estimated net present value of approximately $90 million. The purchase of PSI is contingent upon regulatory approvals and customary closing conditions.

Crane Company intends to finance the acquisition with a combination of cash on hand and additional debt. The acquisition is currently expected to close at the end of 2025 or early 2026. Evercore acted as financial advisor to Baker Hughes.