Precision Castparts Acquisition Receives International Approval

Jason Sandefur

Precision Castparts Corporation�s bid to acquire Jenkintown, PA-based SPS Technologies Inc. received favorable decisions from competition authorities in France, Germany and Romania. The required U.S. and international governmental and regulatory reviews have already been received.
The proposed acquisition, announced in August, remains subject to the satisfaction of closing conditions, including SPS shareholder approval. A vote on the deal is expected Dec. 2. If shareholders approve the offer, the acquisition by Portland, OR-based PCC should be finalized on Dec. 9. Web: precast.com �2003 FastenerNews.com