Arconic Shareholders Approve Acquisition By Apollo Funds, Arconic Shareholders Will Receive $30/Share In Cash For Every Share Of Arconic Common Stock They Own Immediately Prior To The Effective Time Of The Merger
Portfolio Pulse from Happy Mohamed
Arconic Corporation's shareholders have approved the company's acquisition by funds managed by Apollo, including a minority investment from Irenic Capital Management. Arconic shareholders will receive $30 per share in cash for every share they own prior to the merger. The transaction is expected to close in Q3 2023.
July 25, 2023 | 4:31 pm
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POSITIVE IMPACT
Apollo's funds are set to acquire Arconic, with the transaction expected to close in Q3 2023.
The acquisition of Arconic by Apollo's funds could potentially increase Apollo's stock price in the short term as it expands its portfolio.
CONFIDENCE 100
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Arconic's shareholders have approved its acquisition by Apollo, which is expected to close in Q3 2023. Shareholders will receive $30 per share in cash.
The approval of the acquisition by shareholders is a significant step towards the completion of the deal. This could potentially increase the stock price in the short term as shareholders will receive $30 per share in cash.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100