Showing 1-10 of about 192 articles.
Precision Castparts Corp.
Precision Castparts Completes Acquisition of Timet
PORTLAND, Ore., Jan. 8, 2013 (GLOBE NEWSWIRE) -- Precision Castparts Corp. (NYSE:PCP) (PCC) announced today that it has completed its acquisition of Titanium Metals Corporation (NYSE:TIE) (Timet). Timet has been a subsidiary of ELIT Acquisition Sub Corp. (Acquisition Sub), a wholly-owned subsidiary of PCC, since December 21, 2012. Acquisition Sub, as the owner of more than 90% of the outstanding shares of Timet common stock, completed a short-form merger with Timet on January 7, 2013, as a result of which Timet became a wholly-owned subsidiary of PCC. Each remaining share of Timet common stock not tendered in PCC's previous tender offer for Timet shares (other than shares as to which holders properly exercise appraisal rights) was converted in the merger into the right to receive $16.50 without interest and less any applicable withholding of taxes. As a result of the merger, Timet common stock will cease to be traded on the New York Stock Exchange.
Precision Castparts Corp.
Precision Castparts Completes Subsequent Offering Period for Timet Shares
PORTLAND, Ore., Jan. 7, 2013 (GLOBE NEWSWIRE) -- Precision Castparts Corp. (NYSE:PCP) (PCC) announced today the completion of the subsequent offering period relating to the tender offer through its wholly owned subsidiary, ELIT Acquisition Sub Corp. (Purchaser), for all of the outstanding shares of common stock of Titanium Metals Corporation (NYSE:TIE) (Timet) (the "Shares") at a purchase price of $16.50 per Share without interest and less any applicable withholding of taxes. Timet has been a subsidiary of PCC since December 21, 2012, and Timet's results from that date forward are reported as part of PCC's Forged Products segment.
Showing 1-10 of about 192 articles.