AWCMF - Alcoa Seals $2.2B Deal To Acquire Alumina Limited Amplifying Market Presence | Benzinga
Alcoa (NYSE:AA) inked a binding Scheme Implementation Deed to acquire Alumina Limited (OTC:AWCMF) in an all-scrip, or all-stock, transaction.
Last month, Alcoa made a $2.2 billion offer to acquire Alumina, its Alcoa World Alumina & Chemicals (AWAC) joint-venture partner.
Based on Alcoa’s closing share price as of February 23, 2024, the last trading day before the announcement of the Process Deed, the Agreed Ratio implies a value of A$1.15 per Alumina Limited share.
The terms are the same as earlier communicated, with Alcoa offering 0.02854 of its stock for each Alumina share.
As part of the deal, interests in Alcoa shares would be delivered in the form of CHESS Depositary Interests (CDI) that represent a ...