Hicks & Watermill Buy Timken Steel

Hicks Holdings LLC and The Watermill Group have jointly acquired Latrobe Specialty Steel Co. (f.k.a. Timken Latrobe Steel) from The Timken Co. (NYSE: TKR). The deal is valued at $215 million in cash, plus $35 million in assumed liabilities. < ?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />