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Apollo nears deal to buy Arconic, valuing company at about $3 billion: report

Published: May 3, 2023 at 10:12 p.m. ET Arconic was created when Alcoa spun off its jet and auto parts operations in 2016. Getty Images Private-equity firm Apollo Global Management Inc. is close to a deal to acquire aerospace parts company Arconic Corp., the Wall Street Journal reported late Wednesday. The Journal, which first reported
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Arconic was created when Alcoa spun off its jet and auto parts operations in 2016.

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Private-equity firm Apollo Global Management Inc. is close to a deal to acquire aerospace parts company Arconic Corp., the Wall Street Journal reported late Wednesday.

The Journal, which first reported Apollo APO was in talks to buy Arconic in February, reported the deal would value Arconic ARNC at $30 a share, or about $3 billion, and could be announced by the time Arconic reports quarterly earnings before the market opens Thursday.

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