Maxim Crane Works, Platinum Equity merger set to close Wednesday

By Lisa Kerner

Charlotte, N.C., June 30 - The proposed merger of Maxim Crane Works Holdings, Inc. and affiliates of Platinum Equity Partners II, LP is now expected to close on Wednesday, rather than the previously anticipated date of June 30.

Maxim Crane said its stockholders approved the merger agreement on June 11.

It was previously reported that Maxim Crane agreed to be acquired by affiliates of Platinum Equity for $42.50 per share of common stock.

Holders of series A and series B warrants to acquire Maxim Crane common stock will receive the difference between the exercise price of their warrants and $42.50 per share, a prior Maxim Crane news release said.

Maxim Crane is a full-service crane rental company based in Pittsburgh.

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