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Crane (CR) has announced a bolt-on deal just ahead of Christmas as it is acquiring a smaller unit from its peer CIRCOR International (CIR). While the company of course tried to acquire the entire company earlier this year, it is now trying to acquire smaller segments of Circor and continues to have acquisition ambitions. A modest valuation and still unused financial room to pursue deals make that Crane could pursue more deals, as this deal makes sense and the overall valuation looks very reasonable and offers real value.