Circor (CIR, $43.06) shares jump +40%, on Crane's (CR, $84.07) $1.7 billion offer

Circor shares surged more than +40% Tuesday, following news of The Crane Company showing interest in the company.

The Crane has offered to buy the smaller industrial company for around $1.7 billion of enterprise value. That includes $45 per share in cash – which represents a +47% premium over Circor stock’s Monday closing price of $30.66.

According to Crane, it had earlier proposed the all-cash deal to Circor President and CEO Scott Buckhout on April 30, but got rejected by the company's board. But now, Crane has brought out its latest offer to Circor shareholders as well, hoping that they would convey their thoughts on it directly to the Circor Board (as indicated by Max Mitchell, Crane's president and CEO, in a statement).

Crane has Wells Fargo Securities as its financial advisor, and Skadden, Arps, Slate, Meagher & Flom LLP as its legal advisor foe the deal.

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Sergey Savastiouk, Ph.D. has a degree in Applied Mathematics from Moscow University and has extensive experience as an entrepreneur, investor, manager, and mathematician. His professional expertise is in applied mathematics, mathematical modeling, system and pattern analysis, and software and hardware system integration. He has served as the CEO of several hi-tech start-up companies and nonprofit organizations, which has given him proven capabilities in business strategy for high-tech start-up companies, market assessment, company formation, team building, product development, marketing, and sales. He has published numerous articles in journals and magazines on related fields. As a retail investor, he spent 15 years developing his proprietary trading and quantitative algorithms (now Tickeron’s A.I.), which brought him significant returns in trading the stock market. His current work and goal in founding Tickeron is to bring professional, sophisticated stock market analysis capabilities to retail investors via an easy-to-use interface.