---
schema_version: "secwatch.filing_event.v1"
accession: "0000950103-26-010155"
form_type: "8-K"
ticker: "AA"
cik: "0001675149"
company_name: "Alcoa Corp"
filed_at: "2026-07-02T20:17:43+00:00"
generated_at: "2026-07-02T20:19:11.747735+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Alcoa to acquire South32's bauxite, alumina, and aluminum assets for $3.1B cash plus stock

## Summary
- Total upfront consideration: $3.1B cash + ~17M Alcoa shares (valued ~$1B, ~6% ownership post-issuance).
- Up to $750M contingent consideration based on average alumina and aluminum prices over four annual periods.
- Transaction expected to close in H1 2027, subject to South32 shareholder approval and regulatory approvals.
- Alcoa secured a $3.1B bridge loan commitment from Goldman Sachs to fund cash portion if permanent financing not obtained.
- Break fees: South32 pays $41M or $82M to Alcoa in certain termination scenarios; Alcoa pays $82M to South32 in others.

## SEC filing metadata
- accession: 0000950103-26-010155
- form_type: 8-K
- ticker: AA
- cik: 0001675149
- company_name: Alcoa Corp
- filed_at: 2026-07-02T20:17:43+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1675149/000095010326010155/0000950103-26-010155-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1675149/000095010326010155/dp249367_8k-mc.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950103-26-010155
- JSON: https://secwatch.observer/filing/0000950103-26-010155.json
- Plain text: https://secwatch.observer/filing/0000950103-26-010155.txt

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