ACQUISITION: PCC Completes SPS Acquisition

Jason Sandefur

Precision Castparts Corp. completed the acquisition of Jenkintown, PA-based fastener supplier SPS Technologies Inc. \ (see Aug. 19 FIN article). Under the merger agreement PCC issued an aggregate of 9,302,283 shares of PCC common stock and paid $294.1 million in cash for all outstanding shares of SPS. Portland, OR-based PCC valued the deal at about $729 million including assumption of debt. �2003 FastenerNews.com