CRU Aluminum: Apollo Management Group Set to Acquire Arconic

Private equity firm Apollo has been looking to add Arconic to its portfolio for some time. Almost since its spin-off from its upstream parent, Alcoa, in 2016, Arconic’s assets and key position in the aluminum semis value chain have been on Apollo’s radar. The deal is expected to close before the end of 2023, at $30 per share, nearly a 30% premium from when word of the acquisition circulated in February.