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From: blacksheep (Rep: 331)Date: 10/12/2005 12:06
Forum: Titan International - Msg #62No Thread (Rec: 0)
Titan Receives Merger Offer. 18.00 cash deal
Tuesday October 11, 5:55 pm ET
Titan Receives Merger Offer From JPMorgan Affiliate One Equity Partners

QUINCY, Ill. (AP) -- Steel wheel and tire maker Titan International Inc. said Tuesday it has received a merger offer from One Equity Partners LLC, an affiliate of financial services firm JPMorgan Chase & Co., for $18 per share of Titan stock.

Titan International currently has about 19.4 million shares outstanding.

The offer is subject to reaching a definitive agreement, as well as usual closing conditions and board and stockholder approvals, Titan said.

Titan shares dropped 14 cents to close at $13.28 on the New York Stock Exchange.




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