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Friday, September 10, 2010

Allegheny Technologies Inc. Takeover Rumors

Rumors that Allegheny Technologies Inc. (NYSE: ATI) may be getting a takeout offer is sending shares spiking higher on Friday. Could US Steel be interested in this metals company? When asked, Wall Street Analysts predict that ATI will get taken out by the end of the year at a price target of US$6 Billion. Such a takeover offer would price the shares at $60.87/share. This represents a 35%+ increase from today's share price.