20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
Apollo Global Management Inc (NYSE:APO) is reportedly close to taking Arconic Corporation (NYSE:ARNC) private in a roughly $3 billion deal. The deal is set to value Arconic at $30/share.
Assuming the talks don’t fall apart at the last minute, the announcement to come by the time Arconic reports its results Thursday, Wall Street Journal reported citing people close to the matter.
The industrial company, separated in 2016 from Alcoa Corp (NYSE:AA), has a hefty debt load of more than $1.5 billion.
Apollo submitted a bid in February for Arconic, whose advisers sought out other potential acquirers, The Wall Street Journal reported.
Apollo participated in the sale process with hedge-fund investor Irenic Capital Management, which Adam Katz, a former employee of Elliott Investment Management, co-founded.
Mr. Katz led a proxy fight Elliott ran in 2017 that resulted in the resignation of Arconic’s then-chief executive and a shake-up on the company’s board.
The Journal reported in 2018 that Apollo expressed interest in a deal for Arconic.
Apollo ultimately came close to an agreement to pay just above $10 billion for the company, but Arconic instead further divided into two independent, publicly traded businesses in 2020.
Price Action: ARNC shares are up 27.50% at $28.76 during the premarket session on the last check Thursday.
20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
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