Alcoa provides update on transaction milestones for the acquisition of Alumina Limited
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Update time : 2024-06-14 13:05:01
On June 11 2024, Alcoa Corporation announced that it had reached several key milestones in its acquisition of Alumina Limited (“Alumina”) and expects the transaction to be completed on or about August 1, 2024, subject to the satisfaction of customary conditions.
The milestones include:
Alcoa filed its definitive proxy statement with the Securities and Exchange Commission on June 6, 2024, and scheduled the Special Meeting of Shareholders to vote on the transaction for July 16, 2024.
Alcoa received regulatory approvals from Brazil’s Administrative Council for Economic Defense (CADE) for the acquisition on May 13, 2024; and the Australian Competition and Consumer Commission, which has indicated it does not intend to conduct a public review of the transaction.
Alumina has registered its Scheme Booklet with the Australian Securities and Investments Commission (ASIC), and the Scheme Booklet will be sent to Alumina shareholders following orders from the Federal Court of Australia on June 7, 2024, to dispatch the Scheme Booklet and convene a shareholder meeting to conduct a vote. Alumina shareholders are slated to vote on the acquisition on July 18, 2024. The Court also has ordered that a second court hearing, should the Alumina shareholder vote be successful, will take place on July 22, 2024, to approve the results of the shareholder vote.
