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InsideArbitrage Potential Deal Alert: Apollo (APO) in Talks to Buy Aerospace-Parts Maker Arconic (ARNC)

  • February 28, 2023

POTENTIAL DEAL DETAILS

StockArconic CorporationSymbolARNC
Date Announced02/28/2023Source Wall Street Journal
TypeNews Report
Date of Confirmation: 05/04/2023Price at Confirmation: $22.55
Potential Profit: -14.71%Annualized Profit: -82.62%

According to WSJ, Private-equity firm Apollo Global Management (APO) is in talks to acquire aerospace parts maker Arconic Corp. (ARNC). Apollo submitted a bid in February and has debt financing in place.

Update(s):

March 30, 2023: Apollo Global Management (APO) is considering bidding as much as $2.78 billion for equipment and parts manufacturer Arconic Corp. (ARNC).

March 31, 2023: According to Reuters, Sachem Head Capital Management has amassed a stake in Arconic Corp (ARNC) and has been pushing the U.S. aluminum sheet maker to sell itself.

May 3, 2023: WSJ reported Private-equity firm Apollo Global Management (APO) is nearing a deal to buy industrial parts manufacturer Arconic (ARNC). The deal is set to value Arconic at $30 a share, or roughly $3 billion.

 

Disclaimer: Our intent with this section of the website is to present potential deals that appear to be in the pipeline. These potential deals are ones where i) the company has indicated that it is "seeking strategic alternatives", ii) there has been an unsolicited bid for a company as mentioned in a press release by the company or iii) news about the deal has been published by a leading news organization like The Wall Street Journal, The New York Times, Bloomberg, Financial Times, The Washington Post, Reuters and The Associated Press. As best as possible we will try to avoid baseless rumors. There is a high probability that many of these potential deals may not materialize and if they do, the terms of the deal may be different from what was initially reported. Please do your own due diligence before buying or selling any securities mentioned on this website. We do not warrant the completeness or accuracy of the content or data provided.