Crane (CR) announced that it has signed an agreement to acquire Precision Sensors & Instrumentation from Baker Hughes (BKR) for $1.06B after adjusting for expected tax benefits with an estimated net present value of approximately $90M. PSI is expected to have 2025 sales of approximately $390M, with adjusted EBITDA of approximately $60M. 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.
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