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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

Go deeper

FDA limits use of Regeneron and Lilly COVID antibody treatments

A coldbox containing monoclonal antibody treatments at a Regeneron clinic in Pembroke Pines, Florida, in August. Photo: Eva Marie Uzcategui/Bloomberg via Getty Images

The FDA said Monday it's limiting the use of two monoclonal antibody therapies as COVID-19 treatments because data indicates they're "highly unlikely" to be effective against the dominant Omicron variant.

Driving the news: The FDA revised the authorizations for Regeneron and Eli Lilly "to limit their use to only when the patient is likely to have been infected with or exposed to a variant that is susceptible to these treatments," per a statement from the agency.

Updated 3 hours ago - World

Pentagon: 8,500 troops on high alert for possible deployment to eastern Europe

Photo: Anna Moneymaker/Getty Images

Defense Secretary Lloyd Austin has placed 8,500 U.S. troops on "heightened preparedness to deploy" to eastern Europe in case NATO activates its rapid-response force over tensions with Russia, the Pentagon announced Monday.

Why it matters: No decisions have been made to actually deploy U.S. forces, but the heightened alert level will allow the military to rapidly shore up NATO's eastern flank in the event that Russia invades Ukraine. The Pentagon warned that Russia has shown "no signs of de-escalating," and continues to amass troops on Ukraine's borders.

Updated 4 hours ago - Politics & Policy

Biden calls Fox News reporter a "stupid son of a b---h" on hot mic

President Biden blasted Fox News' Peter Doocy on Monday after the reporter asked if the nation's soaring inflation is a political liability, saying, "what a stupid son of a b----h."

The latest: The president called Doocy Monday evening, the reporter told Fox's Sean Hannity. "He cleared the air and I appreciated it. We had a nice call," Doocy said when asked whether the president apologized, adding: "I don't need anyone to apologize to me."