Shares of Arconic Corp. rocketed 21.6% toward a 5 1/2-month high in afternoon trading Tuesday, after The Wall Street Journal reported that private-equity...
Shares of Arconic Corp.
rocketed 21.6% toward a 5 1/2-month high in afternoon trading Tuesday, after The Wall Street Journal reported that private-equity firm Apollo Global Management Inc. is in talks to buy the aerospace parts company. Apollo’s stock APO gained 0.8%. Citing people familiar with the matter, Apollo had submitted a buyout bid in February and has debt financing in place. Arconic has a market capitalization of $2.42 billion and had long-term debt of about $1.
rocketed 21.6% toward a 5 1/2-month high in afternoon trading Tuesday, after The Wall Street Journal reported that private-equity firm Apollo Global Management Inc. is in talks to buy the aerospace parts company. Apollo’s stock APO gained 0.8%. Citing people familiar with the matter, Apollo had submitted a buyout bid in February and has debt financing in place. Arconic has a market capitalization of $2.42 billion and had long-term debt of about $1.
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