slgn

Merrimac Industries, Inc. (AMEX: MRM) 38% HIGHER; Crane Co. (NYSE: CR) and Merrimac announced today that they have signed a definitive agreement for the acquisition of Merrimac by Crane.

Crane will pay $16.00 cash per share of common stock of Merrimac and associated common stock purchase rights.

Under the terms of the agreement, Crane will commence a tender offer to acquire all of the outstanding shares of common stock of Merrimac, and this transaction, which is subject to the satisfaction of customary conditions, is expected to close in the first quarter of 2010.