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Stock Market & Financial Investment News

News Breaks
December 21, 2012
08:06 EDTPCP, TIEPrecision Castparts completes tender offer for shares of Titanium Metals
Precision Castparts (PCP) announced the successful completion of the cash tender offer, through its wholly owned subsidiary, ELIT Acquisition Sub, for all of the outstanding shares of common stock of Titanium Metals Corporation (TIE) for $16.50 per Share. PCC also announced the commencement of a subsequent offering period to acquire all remaining untendered Shares. The subsequent offering period will expire on Friday, January 4, 2013, unless extended. PCC and Purchaser reserve the right to extend the subsequent offering period in accordance with applicable law and the terms of the definitive merger agreement, dated November 9, by and among PCC, Purchaser and Timet. Following completion of the subsequent offering period, PCC and Purchaser intend to increase PCC's ownership percentage of Timet to 100% by means of a merger under Delaware law. In the merger, each Share not previously purchased in the Offer will be converted, subject to appraisal rights, into the right to receive the same $16.50 per Share price, without interest and subject to applicable withholding taxes, that was paid in the Offer. Timet stockholders who do not tender their Shares in the Offer will not receive payment for their Shares until completion of the merger.
News For PCP;TIE From The Last 14 Days
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August 19, 2015
09:50 EDTPCPPrecision Castparts downgraded to Neutral from Buy at Citi
Citi last night downgraded Precision Castparts (PCP) to Neutral saying it does not see another potential buyer emerging to compete with Berkshire Hathaway (BRK.A). Berkshire's offer is likely a "good enough" outcome for Precision Castparts, CIti stated. It lowered its price target for shares to $235 from $246.
August 18, 2015
10:19 EDTPCPOptions with increasing implied volatility
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10:00 EDTPCPOn The Fly: Analyst Downgrade Summary
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06:12 EDTPCPPrecision Castparts downgraded to Neutral from Buy at UBS
UBS analyst David Strauss downgraded Precision Castparts (PCP) to Neutral saying a higher competing takeover bid to Berkshire Hathaway's (BRK.A) is unlikely to emerge. The analyst lowered his price target for Precision Castparts to $235 from $244.
August 17, 2015
10:55 EDTPCPOptions with increasing implied volatility
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August 16, 2015
13:20 EDTPCPBerkshire Hathaway could see boost from Castparts deal, Barron's says
Berkshire Hathaway's (BRK.A, BRK.B) agreement to acquire Precision Castparts (PCP) looks like a "good -- not great" deal for Berkshire and could yield attractive returns for the company, Barron's contends in its 'Follow Up' column. Reference Link

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