Precision Castparts Corp. (PCP) announced after the close Wednesday that it agreed to acquire Carlton Forge Works and related entities for $850 million.
Precision Castparts gapped up sharply Thursday and spiked higher in early trade. The stock rose further around the middle portion of the afternoon and closed up by $8.20 at $94.97 on the highest volume in 10 months. Shares climbed past resistance and set over an 11-month high.
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