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Alcoa Acquiring RTI International Metals, Expanding Aerospace Business

Alcoa Acquiring  RTI International Metals, Expanding Aerospace Business
Titanium forging operations at RTI International Metals. Photo: RTI

High performance metals producer Alcoa [AA] on Monday said it has agreed to acquire RTI International Metals [RTI] in a $1.5 billion deal that will expand its titanium and value-added solutions used by the aerospace industry.The $1.5 billion enterprise value of the pending acquisition, which is expected to close in three to six months subject to regulator and RTI shareholder approvals, includes $1.3 billion in new stock issuance, $330 million in cash on hand at RTI, and $517 million in…

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