I honestly do not remember if it was snug, I do know it didn't have to be stretched over. After removing it from the case it has not yet become fully round, but is not as bent as it was.
My current thoughts are to try to build the area up with a bit of weld, and then RTV the steel spigot in to make it the primary sealing piece, replace the area with a new oring, and hope for the best.