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Stock Market & Financial Investment News

News Breaks
January 8, 2013
08:05 EDTPCP, TIETitanium Metals stock to cease trading as a result of Precision Castparts merger
Precision Castparts, or PCC, (PCP) announced that it has completed its acquisition of Titanium Metals (TIE), or Timet. Timet has been a subsidiary of ELIT Acquisition Sub, a wholly-owned subsidiary of PCC, since December 21, 2012. Each remaining share of Timet common stock not tendered in PCC's previous tender offer for Timet shares 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.
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