The deal still needs ratification by shareholders...

The deal still needs ratification by shareholders and directors, but investors gave PPG Industries Inc.’s planned takeover of Swedlow Inc. their stamp of approval Thursday by sending the stock up $5 to close at a record $28 per share.

The two companies announced Wednesday that PPG will buy Swedlow, a Garden Grove airline parts maker, for $32.60 per share. When the proposed deal was announced, the stock was trading at $23 per share, an all-time high at the time. About 29% of the company is owned by founder and chairman David A. Swedlow.