Arconic taken private by Apollo Global in $5.2 billion deal

By MICHELLE CHAPMAN
AP Business Writer

Aerospace supplier Arconic is being taken private by Apollo Global Management Inc. in a deal worth approximately $5.2 billion. Arconic shareholders will receive $30 per share in cash. Arconic is the company once known as Alcoa. Alcoa Inc. spun off its alumina and bauxite operations in 2016 into a company called Alcoa Corp., while Arconic became the company that produced rolled and plate aluminum, as well as products for the aerospace and industrial sector.