January 15, 2019 / 4:49 PM / a year ago

Apollo Global nears deal to buy Arconic for more than $10 bln - WSJ

Jan 15 (Reuters) - Apollo Global Management LLC is nearing a deal to buy U.S. aluminum products maker Arconic Inc for more than $10 billion, the Wall Street Journal reported on Tuesday.

The private equity firm would pay between $21 and $22 per share in a deal that would likely be announced this week, the report here said, citing people familiar with the matter.

Arconic shares rose almost 4 percent, while Apollo shares were up 1 percent.

Reuters had reported in October that Apollo Global was in advanced negotiations to acquire Arconic.

Both companies did not immediately respond to a Reuters request for comment. (Reporting by Sanjana Shivdas in Bengaluru; Editing by James Emmanuel)

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