---
schema_version: "secwatch.filing_event.v1"
accession: "0000950103-24-003684"
form_type: "8-K"
ticker: "AA"
cik: "0001675149"
company_name: "Alcoa Corp"
filed_at: "2024-03-12T23:59:59+00:00"
generated_at: "2026-06-04T23:05:37.495161+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Alcoa signs binding agreement to acquire Alumina Limited for ~$2.2B in all-stock deal

## Summary
- Alumina shareholders receive 0.02854 Alcoa shares per share; combined ownership 31.25% Alumina / 68.75% Alcoa.
- Equity value of Alumina implied at A$1.15 per share (~$2.2B) based on Alcoa's Feb. 23 close.
- Transaction expected to close Q3 2024; requires shareholder, regulatory, and court approvals.
- Termination fees: Alumina pays $22M; Alcoa pays $50M (or $20M if Alcoa shareholder approval fails).
- Two Alumina directors will join Alcoa board; Alcoa to maintain ASX CDI listing for at least 10 years.

## SEC filing metadata
- accession: 0000950103-24-003684
- form_type: 8-K
- ticker: AA
- cik: 0001675149
- company_name: Alcoa Corp
- filed_at: 2024-03-12T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 3.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1675149/000095010324003684/0000950103-24-003684-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1675149/000095010324003684/dp208232_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950103-24-003684
- JSON: https://secwatch.observer/filing/0000950103-24-003684.json
- Plain text: https://secwatch.observer/filing/0000950103-24-003684.txt

## Key facts
- Material Agreements
  Alcoa Corp entered into Scheme Implementation Deed with Alumina Limited (effective 2024-03-11).
  - Action: entry
  - Agreement: merger
  - Counterparty: Alumina Limited
  - Effective: 2024-03-11
  source text: On March 11, 2024 (Eastern Daylight Time) / March 12, 2024 (Australian Eastern Daylight Time), Alcoa Corporation, a Delaware corporation (“ Alcoa ”), AAC Investments Australia 2 Pty Ltd, an Australian proprietary company limited by shares and an indirect wholly owned subsidiary of Alcoa (“ Alcoa Bidder ”), and Alumina Limited, an Australian public company limited by shares and listed on the Australian Securities Exchange (“ Alumina ”), entered into a Scheme Implementation Deed (the “ Deed ”), pursuant to which, subject to the satisfaction or waiver of the conditions set forth therein, Alcoa Bidder will acquire all Alumina ordinary shares on issue and outstanding
  evidence_url: https://www.sec.gov/Archives/edgar/data/1675149/000095010324003684/0000950103-24-003684-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.