Alcoa Inc. has said it will acquire jet engine component producer Firth Rixson in a $2.85 billion deal expected to enhance the company’s aerospace production.
The terms of the transaction call for the New York-based Alcoa to purchase Firth Rixson from its private equity owner, Oak Hill Capital Partners, for $2.35 billion in cash and $500 million in stock. An additional $150 million could be paid out by 2020 if Firth Rixson achieves certain performance targets.
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