Why did Arconic stock soared Thursday?

Shares of Arconic Corp. soared Thursday, after the aluminum company confirmed an agreement to be acquired by private-equity firm Apollo Global Management Inc., in a deal that implies an enterprise value for Arconic of $5.2 billion. Arconic also reported a first-quarter profit that missed expectations but revenue that beat.

Who owns Arconic (ARNC) stock?

Transaction Details Pursuant to the terms of the transaction, affiliates of the Apollo Funds and Irenic, as well as co-investors, acquired all of the outstanding shares of Arconic stock. Shareholders are entitled to receive $30.00 per share in cash for each share of Arconic (ARNC) common stock owned.

Does Arconic stock trade on the New York Stock Exchange?

Shareholders are entitled to receive $30.00 per share in cash for each share of Arconic (ARNC) common stock owned. As a result of the transaction completion, Arconic’s common stock no longer trades on the New York Stock Exchange. Advisors