Deals
Apollo Is in Talks for Aerospace Parts Maker Arconic
- Arconic deal could be reached in the high $20-a-share range
- Arconic shares rise as much as 23%, the most since 2020
Arconic manufactures aluminum sheets and plates for companies across the aerospace, automotive, commercial transportation, brazing and industrial markets.
Photographer: Luke Sharrett/BloombergThis article is for subscribers only.
Apollo Global Management Inc. is in talks to buy Arconic Corp., an equipment and parts developer to the aerospace industry, according to a person familiar with the matter.
The private equity giant submitted its bid for Arconic earlier in February, said the person, who asked not to be identified discussing private matters. If discussions advance, a deal could be reached in the high $20-a-share range and debt financing is in place to secure the asset, the person said.