Major metal manufacturer, Alcoa, is set to pay $1.5bn in stock to acquire Pittsburgh-based titanium company RTI International Metals following an announcement last week.
Alcoa, which is best known for producing aluminium, is using the acquisition to help expand its reach into the aerospace market. RTI International Metals is a titanium producer that caters to the military, aerospace, energy and medical markets. Alcoa will pay 2.8315 of its shares for each RTI share, with the deal expected to have…
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