Deals
Alcoa to Buy RTI for $1.26 Billion to Expand in Aerospace
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Alcoa Inc. agreed to buy RTI International Metals Inc. for about $1.26 billion to expand its titanium and specialty-metals products business for the aerospace industry.
The all-stock transaction, which values Pittsburgh-based RTI at 50 percent more than it was trading at Friday, is the third aerospace-related deal announced by Alcoa in less than nine months. The largest U.S. aluminum maker is focusing on supplying components to jet-engine and aircraft makers, an area it sees as having big growth potential.