July 25, 2018 / 9:55 PM / a year ago

Arconic weighs buyout approaches from private-equity firms: WSJ

(Reuters) - Aluminum products maker Arconic Inc is weighing takeover approaches from at least two private-equity groups, the Wall Street Journal reported on Wednesday, citing people familiar with the matter.

The company’s shares rose 13 percent to $21.75 in after-market trading.

Blackstone Group and Carlyle Group have made a joint approach to the aerospace-parts maker, while Apollo Global Management has also expressed interest, according to the report on.wsj.com/2NK2fVu.

The two competing groups have indicated a willingness to pay a per-share price in the mid-$20s, the Journal reported.

Arconic’s board plans to discuss the possibility of a sale at a meeting on Thursday, according to the report.

Arconic, which had a market value of $9.30 billion as Wednesday’s close, declined to comment.

Reporting by Nikhil Subba in Bengaluru; Editing by Shounak Dasgupta

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