Alcoa Completes Acquisition of Howmet.Business Editors PITTSBURGH--(BUSINESS WIRE)--June 20, 2000 Alcoa Alcoa U.S. company, the world's largest producer of aluminum. Established in Pittsburgh, Pa., in 1888, it adopted the name Aluminum Co. of America in 1907. Alcoa introduced aluminum foil in 1910 and found uses for aluminum in the emerging aviation and automobile industries. Inc. announced today that it completed its acquisition of Howmet International Inc. As a result of the acquisition, which became effective today, each outstanding share of Howmet common stock was converted into the right to receive $21.00 in cash, without interest. Howmet stock ceased to be traded on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. as of the close of business on Monday Monday: see week. , June June: see month. 19, 2000. Howmet stockholders who hold their own stock certificates will receive notice in the mail regarding the process to surrender their shares for cash. Howmet stockholders whose shares are held through banks or brokers will receive information about their holdings from those institutions. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion