FILE – The Alcoa and Arconic headquarters, left, sit on the Northside of Pittsburgh along the Allegheny River, on Oct. 17, 2022. Aluminum maker Arconic is being taken private by Apollo Global Management in a deal worth approximately $5.2 billion, according to a statement from Apollo on Thursday, May 4, 2023. (AP Photo/Gene J. Puskar, File)

Aerospace supplier Arconic is being taken private by Apollo Global Management Inc. in a deal worth approximately $5.2 billion. Arconic shareholders will receive $30 per share in cash. Arconic is the company once known as Alcoa. Alcoa Inc. spun off its alumina and bauxite operations in 2016 into a company called Alcoa Corp., while Arconic became the company that produced rolled and plate aluminum, as well as products for the aerospace and industrial sector.