Crane NXT Moves To Acquire Antares Vision In Bold Expansion Push

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Crane NXT Co. (NYSE:CXT) said Friday it reached an agreement to acquire a stake in Antares Vision S.p.A., (OTC:ANTVF) with plans to take the Italian technology firm private. The move expands Crane NXT’s reach into life sciences and food and beverage markets.

Crane NXT will purchase about 30% of Antares Vision from Regolo S.p.A. and Sargas S.r.L. at 5 euros per share, valuing the transaction at roughly 120 million euros. Under Italian takeover rules, it will then launch a tender offer for all other outstanding shares at the same price, which places Antares Vision’s enterprise value at about 445 million euros (~$489.5 million).