March 9, 2015 / 11:09 AM / 5 years ago

Alcoa to acquire titanium supplier RTI International for $1.5bln

CHICAGO, March 9 (Reuters) - Metals company Alcoa Inc on Monday that it would acquire titanium supplier RTI International Metals Inc for $1.5 billion, or the equivalent of $41 per share, in an all-stock transaction.

New York-based Alcoa’s acquisition of RTI is a continuation of its strategy of investing in more profitable businesses serving the aerospace and automotive industries. Around 80 percent of RTI’s business is in aerospace and defense contracts. (Reporting By Nick Carey; Editing by Alden Bentley)

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