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Business/Financial

Precision Castparts To Acquire Timet, Expands Titanium Capabilities And Reach

By Cal Biesecker

Tuesday, November 13th, 2012

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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…

Congress

Senate’s CR Has Ship Construction Exemption, Forgoes White House’s Battleship, Munitions Requests

The Senate on Sunday released a bipartisan stopgap funding proposal to keep the government open through December 11, which would also secure additional funds to support ongoing shipbuilding efforts and […]

Congress

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The number of fighter aircraft in the U.S. military inventory will decline over the next few years before expanding to a greater number than currently, but their availability for operational […]

Congress

White House Details ‘Concerns’ With Shipbuilding, Spaced-Based Interceptor Oversight In House’s NDAA

The White House has detailed “a number of concerns” with the newly-passed House version of the next defense policy bill, to include the legislation’s limits on procuring Navy ships built […]

Congress

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