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Alcoa to Acquire Aerospace Parts Maker for $2.85 Billion
Alcoa to Acquire Aerospace Parts Maker for $2.85 BillionBy David Welch, Kiel Porter and Sonja Elmquist Jun 26, 2014 7:54 AM ET
Alcoa Inc. (AA), the largest U.S. aluminum producer, agreed to buy U.K. aerospace-components maker Firth Rixson Ltd. for about $2.85 billion in stock and cash as it expands further into downstream manufacturing.
Alcoa will pay $2.35 billion in cash and $500 million in stock for Firth Rixson, which is owned by private-equity firm Oak Hill Capital Partners LP, the New York-based aluminum company said today in a statement.
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To contact the reporters on this story: David Welch in New York at dwelch12@bloomberg.net; Kiel Porter in London at kporter17@bloomberg.net; Sonja Elmquist in New York at selmquist1@bloomberg.net
To contact the editors responsible for this story: Aaron Kirchfeld at akirchfeld@bloomberg.net Simon Casey, Tina Davis
