Apollo Global Management LLC is in talks to buy Arconic Inc. for about $22 a share in a deal that could be reached by mid-January, according to people familiar with the matter.
The private equity firm and aerospace manufacturer are negotiating a transaction that would protect Apollo from Arconic’s possible liability tied to a deadly apartment fire in London in 2017, said the people, who asked to not be identified because the matter isn’t public. The final price is still being negotiated and talks could fall apart, they said.