Key Developments: Alcoa Inc (AA)

AA on New York Consolidated

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24 Oct 2014
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Latest Key Developments (Source: Significant Developments)

Alcoa to sell ownership stake in Mt. Holly Smelter to Century Aluminum
Thursday, 23 Oct 2014 04:03pm EDT 

Alcoa Inc:Reached an agreement to sell its ownership stake in the Mt. Holly aluminum smelter in Goose Creek, South Carolina, to Century Aluminum company for $67.5 million in cash, plus an additional potential earn-out.Mt. Holly is owned 50.3 percent by Alcoa and 49.7 percent by Century.  Full Article

Alcoa to sell stake in Jamalco bauxite mining to Noble
Wednesday, 15 Oct 2014 09:00am EDT 

Alcoa Inc:Alcoa and Noble Group Ltd announces signing of definitive agreement that will result in Alcoa World Alumina and Chemicals (AWAC) selling 100 pct of its ownership stake in the Jamalco bauxite mining and alumina refining joint venture to Noble for $140 mln.AWAC will continue as managing operator for three years under compensated service agreement and employees will remain employed by Jamalco.Jamalco joint venture is 55 pct owned by Alcoa Minerals of Jamaica (AMJ) and 45 pct owned by Clarendon Alumina Production Ltd. (CAP).AMJ is part of the AWAC joint venture, owned 60 pct by Alcoa and 40 pct by Alumina Limited.CAP is company wholly owned by the Government of Jamaica.  Full Article

Alcoa Inc Opens Aluminum-Lithium Aerospace Plant in Indiana
Thursday, 2 Oct 2014 06:00am EDT 

Alcoa Inc:Announces opening of aluminum-lithium plant in Lafayette, Indiana where it produces advanced, third-generation aluminum-lithium alloys for the aerospace industry.Aircraft manufacturers are increasingly turning to lighter and stronger aluminum-lithium alloys, which are less expensive than titanium and composites and enable better fuel efficiency and lower maintenance costs.Alcoa is produces advanced, third-generation aluminum-lithium alloys for the aerospace industry, including for the Airbus A380 and A350.  Full Article

Alcoa board approves quarterly dividends
Wednesday, 1 Oct 2014 10:11am EDT 

Alcoa Inc:Declares quarterly common stock dividend of 3 cents per share.Payable on Nov. 25.Says to shareholders of record at close of business on Nov. 7.Says quarterly dividend of 93.75 cents per share on Alcoa's $3.75 cumulative preferred stock.Payable on Jan. 1, 2015.Says to shareholders of record at close of business on Dec. 12.  Full Article

Alcoa Inc announces pricing of public offering of mandatory convertible preferred stock
Wednesday, 17 Sep 2014 06:58pm EDT 

Alcoa Inc:Says pricing of its public offering of 25,000,000 of its depositary shares at $50 per depositary share.Each depositary share represents a 1/10th interest in a share of Alcoa’s 5.375 pct Class B Mandatory Convertible Preferred Stock, Series 1, par value $1.00 per share.Each share of mandatory convertible preferred stock has a liquidation preference of $500 (equivalent to $50 per depositary share).The underwriters of the offering have an option to purchase up to an additional 3,750,000 depositary shares to cover over-allotments.The offering is expected to close on Sep. 22.Net proceeds from this offering, after deducting underwriting discount and commissions and estimated offering expenses, are expected to be about $1.2 bln.If the underwriters exercise their over-allotment option in full, net proceeds are expected to be about $1.4 bln.Intends to use the net proceeds of the offering, if completed, as partial consideration to finance the previously announced proposed acquisition of the Firth Rixson business and to pay related fees and expenses.Morgan Stanley & Co. LLC and Credit Suisse Securities (USA) LLC are acting as joint book-running managers of the offering.Citigroup Global Markets Inc., Goldman, Sachs & Co., and J.P. Morgan Securities LLC are acting as bookrunning managers for the offering.  Full Article

Alcoa Inc announces pricing of notes offering
Wednesday, 17 Sep 2014 04:01pm EDT 

Alcoa Inc:Announces that it has priced its underwritten public offering of $1,250,000,000 aggregate principal amount of its 5.125 pct Notes due 2024.Offering is expected to close on Sept. 22, subject to customary closing conditions.Net proceeds from this offering, after deducting underwriting discount and commissions and estimated offering expenses, are expected to be about $1.2 billion.Intends to use the net proceeds from the offering, to finance the previously announced proposed acquisition of the Firth Rixson business and to pay related fees and expenses.Morgan Stanley & Co. LLC and Credit Suisse Securities (USA) LLC are acting as joint book-running managers of the offering.Citigroup Global Markets Inc., Goldman, Sachs & Co., and J.P. Morgan Securities LLC are acting as book-running managers for the offering.  Full Article

Alcoa Inc announces pricing of public offering of mandatory convertible preferred stock
Tuesday, 16 Sep 2014 09:07pm EDT 

Alcoa Inc:Prices public offering of 25,000,000 of its depositary shares at $50 per depositary share.Each Depositary Share represents 1/10th interest in share of Alcoa's 5.375 pct. Class B mandatory convertible preferred stock, series 1, par value $1.00 per share.Each share of mandatory convertible preferred stock has liquidation preference of $500 (equivalent to $50 per Depositary Share).n addition, underwriters of offering have option to purchase up to additional 3,750,000 depositary shares to cover over-allotments, if any.Offering is expected to close on Sept. 22.Net proceeds from this offering, after deducting underwriting discount and commissions and estimated offering expenses, are expected to be about $1.2 bln.If underwriters exercise their over-allotment option in full, net proceeds are expected to be about $1.4 bln.Intends to use net proceeds of the offering, if completed, as partial consideration to finance previously announced proposed acquisition of Firth Rixson business and to pay related fees and expenses.Completion of offering is not contingent on completion of acquisition.Morgan Stanley & Co. LLC and Credit Suisse Securities (USA) LLC are acting joint book-running managers of offering.Citigroup Global Markets Inc., Goldman, Sachs & Co., and J.P. Morgan Securities LLC are acting book-running managers for offering.  Full Article

Alcoa Inc announces proposed public offering of mandatory convertible preferred stock
Monday, 15 Sep 2014 04:14pm EDT 

Alcoa Inc:Commences underwritten public offering of 25,000,000 of its depositary shares.Each Depositary Share represents a 1/10th interest in a share of Alcoa's Class B Mandatory Convertible Preferred Stock, Series 1, par value $1.00 per share, $500 liquidation preference per share of Mandatory Convertible Preferred Stock.Intends to use the net proceeds of the offering, if completed, as partial consideration to finance the previously announced proposed acquisition of the Firth Rixson business and to pay related fees and expenses.Completion of the offering is not contingent on the completion of the acquisition.Morgan Stanley & Co. LLC and Credit Suisse Securities (USA) LLC are acting as joint book-running managers of the offering.  Full Article

Alcoa signs multiyear supply contract with Boeing valued at more than $1 bln
Thursday, 11 Sep 2014 09:00am EDT 

Alcoa Inc:Signs contract with Boeing to supply aluminum sheet and plate products.Multiyear, more than $1 bln contract, makes Alcoa sole supplier to Boeing for wing skins on metallic structure aircraft.Alcoa plate products, such as wing ribs and skins, will also be on every Boeing platform.Boeing next-generation 737, shown here, is one of world's most successful commercial airliners and features Alcoa aluminum.  Full Article

Alcoa approves quarterly dividends
Friday, 25 Jul 2014 12:45pm EDT 

Alcoa Inc:Declares a quarterly common stock dividend of 3 cents per share.Payable Aug. 25 to shareholders of record on Aug. 8.Declares a quarterly dividend of 93.75 cents per share on Alcoa's $3.75 cumulative preferred stock.Payable Oct. 1 to shareholders of record on Sept. 12.  Full Article

EU mergers and takeovers (Oct 16)

BRUSSELS, Oct 16 - The following are mergers under review by the European Commission and a brief guide to the EU merger process:

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