Precision Castparts acquires SPS Technologies

Precision Castparts Corp. has signed a definitive agreement to acquire SPS Technologies Inc., a supplier of fasteners and other metal products to the aerospace, automotive, and general industrial and other markets, in an accretive transaction valued at approximately USF 43.78 per SPS Technologies Inc. (SPS) share as of the close of market on August 15, 2003, which represents a premium of 28% to SPS’s closing price. The total equity consideration including after-tax option payments is USD 575 million.

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