Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of specialty metals maker Ladish
So what: Ladish's expertise lies in the production of jet engine components, so it's no surprise that Allegheny is making the move to expand its aerospace offerings. Ladish shareholders will receive $24 in cash and 0.4556 of an Allegheny share for each common share held, with the total value of the offer ($46.75 a share) representing a 59% premium to Ladish's Tuesday closing price.
Now what: For Ladish shareholders, there's nothing left to do but pat themselves on the back and take their profits. After today's spike, it wouldn't exactly be prudent to hold out for a few more percentage points of upside. After all, several of Ladish's close rivals, like Barnes Group
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