Business
Arconic buyout deal could be announced by mid-December, sources say
Arconic is expected to announce a deal on a leveraged buyout by mid of December 2018, sources tell Bigtime Daily.
The aluminum products maker has been considering some offers, and the sources tell Bigtime Daily that a deal is likely to take place within a few weeks. Apollo Global Management is said to have offered $11 billion in October, while another bidding group which includes the buyout giants Blackstone, Carlyle and Onex have also been planning for a bid.
Activist hedge fund Elliott Management has been planning and pushing the company hard to explore a sale. Elliott is likely to roll its equity in the company into the buyout, the sources told Bigtime Daily.
If a deal is successful, it could well be the largest leveraged buyout ever since the big buyout boom which preceded the financial crisis.
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