Apollo Global Management is among several firms to have expressed interest in buying Arconic, the aeronautics parts-maker that was known as Alcoa before a 2016 breakup.

Why it's a big deal: Because Arconic was the subject of a very contentious proxy battle last year with Elliott Management, which resulted in the ouster of CEO Klaus Kleinfeld and a board revamp. But the CEO swap hasn't helped Arconic's stock price, which has fallen 36% so far this year — partially due to a tariff-fueled rise in aluminum prices.

Size: Arconic has a current market cap of around $8.3 billion, plus $6.4 billion in debt.

Bottom line: "Should there be a deal, it would be the latest in a string of double-digit-billion leveraged buyouts from the likes of Blackstone, KKR and Carlyle Group. LBOs are on pace for their busiest year by dollar volume since 2007, according to Dealogic." — Miriam Gottfried & Dana Cimilluca, WSJ

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Updated 17 mins ago - Politics & Policy

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Illustration: Aïda Amer/Axios

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Pence chief of staff Marc Short tests positive for coronavirus

Marc Short with Katie Miller, Vice President Pence's communications director, in March. Photo: Doug Mills/The New York Times via Reuters

Marc Short, Vice President Mike Pence’s chief of staff, tested positive for the coronavirus Saturday and is quarantining, according to a White House statement.

Why it matters: Short is Pence's closest aide, and was one of the most powerful forces on the White House coronavirus task force.

6 hours ago - World

Opposition leader Leopoldo López flees Venezuela

Venezuelan opposition politician Leopoldo López outside the Spanish embassy in Caracas, in 2019. Photo: Juan Barreto/AFP via Getty Images

Leopoldo López, a former political prisoner and prominent Venezuelan opposition leader, has left the country, his Popular Will party confirmed in a statement Saturday.

Why it matters: He's been an influential force in the push to oust President Nicolás Maduro's regime and a mentor to opposition leader Juan Guaidó. He'd been in the Spanish ambassador's Caracas residence since escaping house arrest in April 2019 following a failed military uprising.