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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; matthew.jarzemsky@dowjones.com

Stock News for Allegheny (ATI)
DateTimeHeadline
07/03/201505:57:00ACTIA Group : Information relative au nombre total de droits...
07/02/201505:44:00ACTIA GROUP : BILAN SEMESTRIEL DU CONTRAT DE LIQUIDITE
07/01/201508:27:02Current Report Filing (8-k)
07/01/201507:35:00ATI and USW Continue to Operate Under Existing Labor Agreements
06/24/201507:28:00Columbia Pipeline to Join the S&P 500; Other Changes to S&P MidCap...
06/17/201516:26:34Current Report Filing (8-k)
06/17/201508:00:00ATI to Expand Nickel-Based Superalloy Powder Capabilities
06/15/201503:55:00ATI Achieves PQ Titanium Product and Process Qualification
06/11/201516:15:00ATI Names Vice President of New Product Development
06/11/201515:23:31Annual Report of Employee Stock Plans (11-k)
06/11/201515:19:10Annual Report of Employee Stock Plans (11-k)
06/11/201515:16:00Annual Report of Employee Stock Plans (11-k)
06/11/201515:10:49Annual Report of Employee Stock Plans (11-k)
06/11/201515:07:15Annual Report of Employee Stock Plans (11-k)
06/11/201515:04:29Annual Report of Employee Stock Plans (11-k)
06/11/201514:56:25Annual Report of Employee Stock Plans (11-k)
06/02/201512:00:00ACTIA Muller fusionne avec ACTIA Automotive
05/29/201507:18:25Specialized Disclosure Report (sd)
05/28/201516:42:40Current Report Filing (8-k)
05/28/201516:15:00ATI Discovers Defective Rotary Crop Shear Component at its Hot-Rolling...

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