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Crane Co. Files Antitrust Suit Against B.F. Goodrich and Coltec

29 March 1999

Crane Co. Files Antitrust Suit Against B.F. Goodrich and Coltec

    STAMFORD, Conn., March 26 -- Crane Co. announced
today that it had filed a complaint in the U.S. District Court for the
Northern District of Indiana seeking to enjoin B. F. Goodrich's planned
acquisition of Coltec Industries, Inc.  on antitrust grounds, and that it was
seeking to consolidate its lawsuit with the pending action by Allied Signal
against B. F. Goodrich and Coltec in the same court.  Concurrently, Crane said
that it has withdrawn its previously announced offer to acquire Coltec.
    Crane Co. is a diversified manufacturer of engineered industrial products.