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. As a result of the purchase of Shares in the Offer, PCC has sufficient voting power to approve the merger without the affirmative vote of any other Timet stockholder. 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.About Precision Castparts Corp.
Precision Castparts Successfully Completes Tender Offer For Shares Of Timet And Announces Subsequent Offering Period
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