Apollo Global Management is nearing a deal to buy US aluminum products maker Arconic for more than US$10 billion, the Wall Street Journal reported on Tuesday, January 15.
The private equity firm would pay between US$21 and US$22 per share in a deal that would likely be announced this week, the report stated, citing people familiar with the matter.
Arconic shares rose almost 4%, while Apollo shares were up 1%. The Journal had reported in October that Apollo Global was in advanced negotiations to acquire Arconic.
Full Content: Wall Street Journal
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