Arconic Reportedly Mulls $11 Billion Acquisition Offer; Offer In Line With Our $23 FVE
Based on a Reuters report published the evening of Oct. 22, Arconic is considering an $11 billion acquisition offer from Apollo Global Management. The offer would value Arconic at between $23 and $24 per share, closely in line with our existing $23 per share fair value estimate. Our fair value estimate has been steady at $23 since the company's first-quarter earnings release in late April and has ranged between $23 and $25 per share since early 2017. This same time period has proved volatile for...Arconic is engaged in lightweight metals engineering and manufacturing. The company's segments include: Engineered Products and Solutions, which produces products that are used mainly in the aerospace (commercial and defense), industrial, commercial transportation, and power generation end markets; Global Rolled Products, which produces aluminum sheet and plate for a variety of end markets, and also produces aseptic foil for the packaging end market; and Transportation and Construction Solutions, which produces products that are used in the commercial transportation and nonresidential building and construction end markets, and also produces aluminum products for the industrial products end market.
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