Apollo to Acquire Arconic for $5.2 Billion

Arconic has agreed to be purchased by Apollo Global Management for $30 a share in cash.
The deal values Arconic at $5.2 billion and represents a 35.6% premium over Arconic's stock price.
The transaction is expected to close in the second half of this year.
Arconic struggled last year as metal prices fell, and its stock lost 38% of its value.
A minority investment in the deal is coming from Irenic Captial Management.