Arconic shareholders approve $30 per share acquisiotn by Apollo

Arconic (ARNC) announced that its shareholders have voted to approve the company’s pending acquisition by funds managed by affiliates of Apollo (APO). Under the terms of the merger agreement, Arconic shareholders will receive $30.00 per share in cash for every share of Arconic common stock they own immediately prior to the effective time of the merger. Assuming timely satisfaction of necessary closing conditions, the transaction is expected to close in Q3.