Apollo Global Management is considering a bid of up to $2.78 billion to acquire Arconic, a manufacturer of lightweight metal sheeting products for the aerospace, automotive, transport, packaging, and construction sectors, according to a report by Bloomberg.
Apollo Global Management is considering a bid of up to $2.78 billion to acquire Arconic, a manufacturer of lightweight metal sheeting products for the aerospace, automotive, transport, packaging, and construction sectors, according to a report by Bloomberg.
An unnamed Bloomberg source has revealed that Apollo, which has carried out site visits to Arconic’s facilities as part of its due diligence process, is looking to make a bid of around $27 or $28 per share for the business by early April.
According to the sources though, a final decision has yet to be made and the firm could yet decide against making an offer to acquire Arconic, which has been working with financial advisers on a sale process over the past few months.
Other unnamed private equity firms are also reportedly interested in acquiring the company.
