Alcoa: firm agreement to acquire Alumina
Under the agreed terms, Alumina shareholders will receive 0.02854 Alcoa shares for each Alumina share, a ratio that implies an equity value of approximately $2.2 billion for Alumina. They will thus own 31.25% of the combined group.
The Boards of Directors of Alcoa and Alumina Limited recommend that their shareholders vote in favor of the transaction, which 'is expected to result in long-term value creation for shareholders of both companies'.
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