|Day's Range||32.56 - 33.36|
|52 Week Range||20.53 - 39.78|
|PE Ratio (TTM)||178.82|
|Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
For all the bitter back-and-forth, corporate fights with activist investors typically result in anticlimactic settlements. A few board seats are given up followed by a conciliatory press release (disingenuous ...
Specialty metals company Arconic Inc struck a deal with Elliott Management on Monday, ending a battle for control of the company's board that was days away from culminating in a shareholder vote. From the start of its public campaign in January, Elliott said Arconic, the $12 billion company that separated from Alcoa Corp last year, needed new leadership and that its performance had missed targets and lagged peers. Arconic shares could more than triple if the company cut costs and made other operational changes, according to Elliott's presentations.
The fight has already claimed the scalp of former CEO Klaus Kleinfeld and was headed for a nasty fight and divisive vote at an upcoming shareholder meeting.