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Alcoa to buy RTI for $1.26 billion to expand aerospace unit

2015-03-09 13:53:05| Industrial Machines - Topix.net

Alcoa Inc. agreed to acquire RTI International Metals Inc. for about $1.26 billion to expand its business making titanium and specialty-metals products for the aerospace industry. Investors will receive 2.8315 Alcoa shares for each RTI share, representing a value of $41 per RTI share based on Alcoa's March 6 closing price, the companies said Monday in a statement.

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