On Morning morning, Alcoa (AA) announced that it will acquire RTI International Metals (RTI). Here’s what the news means for mutual fund investors.

Alcoa has agreed to acquire RTI International Metals for $1.5 billion, or $41 per share. The news sent shares of RTI soaring over 40% on Monday morning, while Alcoa shares fell more than 4%. The deal includes $330 million of RTI cash on hand and $517 million in RTI’s convertible notes.

RTI International Metals is a supplier of titanium products, and has companies including Boeing (BA) as customers. About 80% of its business is in the aerospace-defense industry.

Last week, Alcoa completed its acquisition of titanium and aluminum manufacturer Tital. Today, Alcoa announced an acquisition that will boost its exposure in the aerospace-industry. The aluminum business has been falling, and Alcoa is taking action. Going forward, the company said that it will be more focused on the aerospace and automotive industries.

Investors interested in AA may also be interested in the funds listed below. These funds currently have the largest stakes in the company.

The funds listed above allow investors to gain exposure to Alcoa while remaining diversified. Investors interested in Alcoa may also be interested in Kaiser Aluminum (KALU).

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