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Precision Castparts To Acquire Timet, Expands Titanium Capabilities And Reach

Cal Biesecker By
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Precision Castparts [PCP] last week said it entered into a definitive agreement to acquire Titanium Metals Corporation [TIE] for $16.50 per share in cash. The transaction values Titanium Metals Corporation (Timet) at a total enterprise value of approximately $2.9 billion, including net cash and equivalents. The acquisition of Timet is expected to be immediately accretive to earnings. Subject to the satisfaction or waiver of certain conditions, the tender offer is expected to be completed by the end of calendar year…

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