The Wall Street Journal: Arconic mulls competing buyout bids from Apollo and Blackstone-Carlyle

The Wall Street Journal: Arconic mulls competing buyout bids from Apollo and Blackstone-Carlyle

Arconic Inc. is weighing takeover approaches from at least two private-equity groups, according to people familiar with the matter, in what would be one of the biggest recent leveraged buyouts.

Blackstone Group LP BX, -0.39%   and Carlyle Group LP CG, +0.00%   made a joint approach to the aerospace-parts maker, while Apollo Global Management LLC APO, -1.31%   also expressed interest, the people said.

The two competing groups have indicated a willingness to pay a per-share price in the mid-$20s, the people said. Arconic stock ARNC, -0.87%   closed Wednesday at $19.26, having surged by more than 10% since The Wall Street Journal reported earlier this month that the company is the subject of private-equity interest.

Arconic’s board plans to discuss the possibility of a sale at a meeting Thursday ahead of its earnings report next week, one of the people said. A deal for Arconic would be one of the biggest leveraged buyouts of the year. The New York company, previously Alcoa, has a market value of more than $9 billion. At $25 a share, its equity would be worth around $12 billion. Arconic also has about $6.3 billion of debt.

An expanded version of this report appears on WSJ.com.

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