Apollo Global Management LLC (APO.N) is nearing a deal to buy U.S. aluminum products maker Arconic Inc (ARNC.N) for more than $10 billion, the Wall Street Journal reported on Tuesday.

The private equity firm would pay between $21 and $22 per share in a deal that would likely be announced this week, the report said, citing people familiar with the matter.

The deal would represent a premium of 10 percent or more as the shares were recently trading just above $19, according to the report.

READ FULL ARTICLE HERE