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Kennametal said the acquired business, which recoverstungsten from scrap, would boost raw material sourcing andaccelerate plans to develop an advanced tungsten carbiderecycling facility in the United States.
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A trade union official has told Reuters that management ispreparing an ambitious plan of investment in Italy which, ifapproved, could require a cash injection, worth - according to asource familiar with the matter - between 3 and 5 billion euros.
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Under the initial agreement, Cooper shareholders stand toreceive $35 per Cooper share, a premium of more than 40 percentto its price before the acquisition announcement, valuing thedeal at $2.5 billion.
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The United States won the inaugural team event at the 2011 worlds in Shanghai, but only managed a sixth-place showing this time, less than a half-second out of a bronze. Teams must use at least one woman, and Hungary went with two females (finishing ninth of 22 teams).