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News Breaks
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January 17, 2012
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| 05:36 EDT |  | CRS |
| theflyonthewall.com: | Carpenter Technology and Latrobe amend merger agreement | | Carpenter Technology announced that it entered into an amendment of the merger agreement with the owners of Latrobe Specialty Metals that was initially entered into on June 20, 2011. There are two principal elements of the Amendment. The first provides for additional time to receive antitrust approval through the Hart-Scott-Rodino process by extending the date after which the merger agreement may be terminated by Latrobe or Carpenter in the event the consummation of the merger has not occurred from Jan. 16 to April 30. The second element of the Amendment modifies certain aspects of the merger agreement to reflect higher expected Latrobe working capital at the time of closing. It specifically allows for a smaller number of Carpenter common shares to be placed into an escrow account in connection with Latrobe’s underfunded pension plan and requires Carpenter to pay for certain additional transaction costs. The provisions relating to the maximum issuance of 8.1M shares of Carpenter common stock to Latrobe’s stockholders and assumption of a maximum of $160M of Latrobe’s debt by Carpenter upon closing of the Merger remain substantially unchanged. :theflyonthewall.com |
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May 22, 2012
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| 08:25 EDT |  | CRS |
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