Verzatec Abandons Proposed Acquisition of Crane Composites Following Justice Department Suit to Block

The Department of Justice announced today that Grupo Verzatec S.A. de C.V. (Verzatec) has abandoned its proposed acquisition of Crane Composites (Crane), a wholly-owned subsidiary of Crane Co. The proposed transaction would have eliminated intense competition between Verzatec and its biggest competitor, Crane, allowing Verzatec to dominate the industry and harm American businesses.

From the U.S. Department of Justice: Read More