Apollo in advanced talks to acquire Arconic: Reuters
Apollo Global Management LLC is in advanced negotiations to acquire U.S. aluminum products maker Arconic Inc for more than US$11 billion, sources told Reuters. Apollo could reach a deal with Arconic as early as next week after a competing buyout consortium comprising Blackstone Group, Carlyle Group, Onex Corp and Canada Pension Plan Investment Board indicated it may need three more weeks to complete due diligence on the company, the sources said. A transaction would come after U.S. President Donald Trump’s imposition of aluminum tariffs this year drove up some costs for Arconic, which makes aluminum components for cars and airplanes.
31 October 2018•2 mins read
