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Arconic inks $700 million share repurchase agreement on heels of Apollo bid

Anthony Noto
Arconic inks $700 million share repurchase agreement on heels of Apollo bid

Arconic Inc. confirmed Tuesday that it has agreed to repurchase $700 million-worth of its common stock. JPMorgan Chase & Co. (NYSE: JPM) advised the deal. New York-based Arconic (NYSE:ARNC), the lightweight metals manufacturer spun off from Alcoa in 2016, will receive initial delivery of approximately 31.9 million shares on Thursday.