With roots in the 19th century steel industry of Sheffield, England, Firth Rixson has operations in the United Kingdom, United States, continental Europe, and China.
While aerospace is the biggest part of its business, it also has power generation, oil and gas, and mining segments. Asked whether Alcoa would exit any of those smaller businesses, Kleinfeld said it would not.
Alcoa said it had secured interim financing for the deal from Morgan Stanley and would issue "a prudent combination" of debt and equity-content securities.
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It expects the takeover to raise its aerospace revenue by 20 percent, to some $4.8 billion a year. It sees no impact on earnings in the first year, and gains in the second year.
The deal value includes $2.35 billion in cash and $500 million of stock. There may also be a payment of as much as $150 million based on Firth Rixson's performance.
Alcoa's financial advisers were Greenhill & Co. and Morgan Stanley, and its legal adviser was Wachtell, Lipton, Rosen & Katz. Firth Rixson was advised by Citigroup and Lazard, as well as law firm Paul, Weiss, Rifkind, Wharton & Garrison.
Shares of Alcoa were up 3.4 percent at $15.04 in early trading. (Click here for the latest quote.)