Alcoa to Acquire Alumina for $2.2B in an All-Stock Deal

Alcoa to Acquire Alumina for $2.2B in an All-Stock Deal Feb. 26, 2024, 12:06 p.m., readers: 9

Alcoa Corp (NYSE:AA) announced a proposal on Sunday to acquire Australian aluminum producer Alumina Ltd (ASX:AWC) in an all-stock deal valued at $2.2 billion, aiming to establish one of the globe's leading bauxite and alumina production entities. Based in Pittsburgh, Alcoa's offer would allow Alumina's shareholders to exchange each of their shares for 0.02854 shares of Alcoa, which translates to a value of approximately $0.76 per share based on Alcoa's last closing price. This offer appraises Alumina at around $2.2 billion, reflecting nearly a 13% premium on the company's closing price on Friday.

About NYSE: AA

A lcoa Corporation, together with its subsidiaries, produces and sells bauxite, alumina, and aluminum products in the United States, Spain, Australia, Iceland, Norway, Brazil, Canada, and internationally. The company operates through three segments: Bauxite, Alumina, and Aluminum. It engages in bauxite mining operations;

Price: 36.09
Market cap: 6.5 billion USD
Eps: -3.65
P/e ratio: -9.89
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