Precision Castparts to buy Titanium Metals for $2.9 bln

Fri Nov 9, 2012 4:10pm EST

Nov 9 (Reuters) - Precision Castparts Corp, which makes metal components for the aerospace industry, said it will buy Titanium Metals Corp for $2.9 billion in cash.

Precision Castparts offer of $16.50 per share for Titanium Metals represents a 43 percent premium to the stock's Friday close.