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Allegheny Tech Agrees To Acquire Ladish For $778 Million

DOW JONES NEWSWIRES Allegheny Technologies Inc. (ATI) has agreed to acquire fellow metal-products maker Ladish Co. (LDSH) for about $778 million in cash and stock. Allegheny, a metal processor that makes products for the aerospace and petrochemical industries, has seen revenue rise in recent quarters, but has suffered from steel-price increases of late. Ladish focuses on jet engine, aerospace and industrial components. It has seen strong bottom-line improvement lately on much stronger margins. Ladish shareholders will get $24 and 0.4556 share of Allegheny for each share they own. That values Ladish at $46.75 a share, a 59% premium to Tuesday's closing price. The stock had already doubled this year, rebounding from a slump in recent years. The stock was at the offer price as recently as three years ago. Allegheny's product portfolio "combined with Ladish's technologically advanced forging, investment casting, and machining capabilities creates a more integrated, stable, and sustainable supply chain for the aerospace, defense, and industrial markets," said Allegheny Chairman and Chief Executive L. Patrick Hassey. Allegheny expects the deal to add to earnings after the first year. It is expected to close early next year. -By Matt Jarzemsky, Dow Jones Newswires; 212-416-2240;

Stock News for Allegheny (ATI)
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11/05/201512:00:00ACTIA GROUP : Information relative au nombre total de droits...
10/29/201516:54:24Statement of Changes in Beneficial Ownership (4)
10/29/201516:52:09Statement of Changes in Beneficial Ownership (4)
10/29/201516:08:39Quarterly Report (10-q)
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10/25/ Daily Round Up 10/23/15: THC, ACAT, VEEV...
10/23/201516:41:37Statement of Changes in Beneficial Ownership (4)
10/23/201516:18:20Current Report Filing (8-k)
10/20/201507:30:00ATI Third Quarter 2015 Results In Line With Prior Guidance
10/06/201516:24:57Current Report Filing (8-k)
10/06/201516:15:00ATI Comments on Third Quarter 2015
10/01/201516:29:20Current Report Filing (8-k)
10/01/201510:50:00Allegheny Tech: Flat-Rolled Operations on Track
10/01/201508:45:00ATI Announces Successful Completion of Repairs to Hot-Rolling...
09/25/201516:17:44Current Report Filing (8-k)
09/24/201508:51:00ATI Completes Asset Based Lending Revolving Credit Facility Agreement
09/17/201501:00:00ACTIA Group : Mise à disposition du Rapport Financier Semestriel 2...
09/17/201501:00:00ACTIA Group : Résultats semestriels 2015
09/03/201516:29:19Current Report Filing (8-k)

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