October 8, 2018 / 12:09 PM / 2 months ago

BUZZ-Arconic: Private equity consortium weighing bid for co

** Aluminum products maker shares up 5 pct at $22.96 premarket

** Blackstone Group, Carlyle Group LP, Onex Corp and Canada Pension Plan Investment Board join forces in a bid to buy Arconic, according to Reuters report

** ARNC to decide whether to agree to a sale later this month

** ARNC has been discussing acquisition offers for the entire co, even though it announced a sale process in July, only for its building and construction systems unit

** ARNC, formally known as Alcoa Inc, said in February it would carry out a “strategy and portfolio review,” to be completed by November

** Up to Friday’s close, ARNC had fallen 19.9 pct this year, compared with a 7.9 pct increase in the S&P 500 index (Reporting by Ankit Ajmera in Bengaluru)

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