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Precision Castparts buying Titanium Metals Corp.

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Precision Castparts is buying Titanium Metals Corp. in a deal worth $2.9 billion. Precision will pay $16.50 per share for the company that makes titanium melted and milled products. Timet, with production facilities in the US and Europe, supplies nearly one-fifth of the world’s titanium. The metal is in demand among commercial aerospace manufacturers.

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