FX.co ★ Alcoa Gets Stockholder Approval For Issuance Of Shares In Connection With Acquisition Of Alumina

Alcoa (AA) has announced the preliminary voting results from a Special Meeting of Stockholders, where stockholders overwhelmingly approved the issuance of shares for the proposed acquisition of Alumina via a scheme of arrangement. According to the company, approximately 99 percent of Alcoa shares represented at the Special Meeting were voted in favor of this issuance.

Alumina shareholders are scheduled to consider and vote on the scheme on July 18, 2024. The scheme's approval is also subject to a hearing by the Federal Court of Australia, which is set for July 22, 2024. The transaction is expected to close around August 1, 2024.