ARNC

Arconic Names Chris Ayers CEO and Chairman of the Board

Retrieved on: 
Friday, August 25, 2023
Machine Tools, Metalworking & Metallurgy, Packaging, Architecture, Manufacturing, Construction & Property, Steel, Pratt & Whitney, ARNC, Pratt, Alcoa, Precision Castparts Corp., Forging, PCC, Apollo, Corporation, United Technologies, WireCo WorldGroup, NYSE, Management, Arconic

Arconic Corporation (NYSE:ARNC) (“Arconic” or the “Company”) announced today that Chris Ayers will become Chief Executive Officer and Chair of the Board of Arconic, effective September 11, 2023.

Key Points: 
  • Arconic Corporation (NYSE:ARNC) (“Arconic” or the “Company”) announced today that Chris Ayers will become Chief Executive Officer and Chair of the Board of Arconic, effective September 11, 2023.
  • Ayers has served on Arconic’s Board of Directors for the past seven years and held several executive positions in key businesses within the Company’s predecessor, Alcoa, prior to his board role.
  • Current Arconic CEO Tim Myers will continue to serve in an advisory capacity as Arconic’s Lead Outside Director of the Board.
  • Prior to serving on Arconic’s Board of Directors, Ayers was President and Chief Executive Officer of WireCo WorldGroup, Inc., from 2013 through 2017.

Arconic Completes Transaction with Apollo Funds

Retrieved on: 
Friday, August 18, 2023
Automotive Manufacturing, Aerospace, Manufacturing, Construction & Property, Professional Services, Architecture, Asset Management, Steel, Packaging, Machinery, Machine Tools, Metalworking & Metallurgy, LLP, BMO Capital Markets, Apollo Global Management, Wachtell, Lipton, Rosen & Katz, TD, APO, ARNC, TD Securities, Goldman Sachs, Corporation, Acquisition, Wells Fargo, Willkie Farr & Gallagher, Paul, Weiss, Rifkind, Wharton & Garrison, NYSE, Financial adviser, Arconic, Irenicism

Arconic Corporation (“Arconic” or the “Company”) and Apollo (NYSE: APO) today announced that Apollo Funds have completed the previously announced acquisition of the Company, which includes a minority investment from funds managed by affiliates of Irenic Capital Management (“Irenic”).

Key Points: 
  • Arconic Corporation (“Arconic” or the “Company”) and Apollo (NYSE: APO) today announced that Apollo Funds have completed the previously announced acquisition of the Company, which includes a minority investment from funds managed by affiliates of Irenic Capital Management (“Irenic”).
  • Tim Myers, Arconic Chief Executive Officer, said, “The closing of this transaction with Apollo Funds brings new perspective combined with deep industry expertise that will benefit our customers, employees, investors, and the communities where we operate.
  • and Goldman Sachs & Co. LLC served as financial advisors to Arconic, and Wachtell, Lipton, Rosen & Katz served as legal counsel to Arconic.
  • Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel to the Apollo Funds.

Arconic Reports Second Quarter 2023 Results

Retrieved on: 
Monday, July 31, 2023
Packaging, Engineering, Architecture, Automotive Manufacturing, Aerospace, Manufacturing, Other Transport, Other Construction & Property, Construction & Property, Transport, Building Systems, Other Manufacturing, Logistics, Supply Chain Management, Steel, ARNC, Public expenditure, Operation, Corporation, NYSE, Video game, Arms industry

Arconic Corporation (NYSE: ARNC) (“Arconic” or the “Company”) today reported second quarter 2023 results.

Key Points: 
  • Arconic Corporation (NYSE: ARNC) (“Arconic” or the “Company”) today reported second quarter 2023 results.
  • The Company reported net income of $59 million, or $0.58 per share, compared with $114 million, or $1.05 per share, in second quarter 2022.
  • Second quarter 2023 Adjusted EBITDA was $198 million, up 10% year over year on a comparable basis excluding Russian Operations.
  • Cash provided from operations was $189 million and capital expenditures were $57 million.

Arconic Shareholders Approve Acquisition by Apollo Funds

Retrieved on: 
Tuesday, July 25, 2023
Machine Tools, Metalworking & Metallurgy, Other Manufacturing, Manufacturing, Steel, ARNC, Corporation, Acquisition, Bangladesh Securities and Exchange Commission, NYSE, APO, Special, Security (finance), Arconic

Arconic Corporation (NYSE: ARNC) (“Arconic” or the “Company”) announced today that its shareholders have voted at a special meeting of Arconic shareholders (the "Special Meeting") to approve the Company's pending acquisition by funds managed by affiliates of Apollo (NYSE: APO) including a minority investment from funds managed by affiliates of Irenic Capital Management.

Key Points: 
  • Arconic Corporation (NYSE: ARNC) (“Arconic” or the “Company”) announced today that its shareholders have voted at a special meeting of Arconic shareholders (the "Special Meeting") to approve the Company's pending acquisition by funds managed by affiliates of Apollo (NYSE: APO) including a minority investment from funds managed by affiliates of Irenic Capital Management.
  • Under the terms of the merger agreement, Arconic shareholders will receive $30.00 per share in cash for every share of Arconic common stock they own immediately prior to the effective time of the merger.
  • Assuming timely satisfaction of necessary closing conditions, the transaction is expected to close in the third quarter of 2023.
  • The final voting results on the proposals voted on at the Special Meeting will be set forth in a Form 8-K filed by Arconic with the U.S. Securities and Exchange Commission.

(ARNC): Johnson Fistel Investigates Proposed Sale of Arconic Corporation; Is $30.00 a Fair Price?

Retrieved on: 
Tuesday, July 18, 2023
ARNC, Apollo, Learning, Sale, LLP, Acquisition, NYSE, SAN, Apollo Global Management, APO, Arconic

SAN DIEGO, July 18, 2023 (GLOBE NEWSWIRE) -- Stockholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of Arconic Corporation (NYSE: ARNC) (“Arconic” or the “Company”) breached their fiduciary duties in connection with the proposed sale of the Company to Apollo Global Management, Inc. (NYSE: APO) (“Apollo”).

Key Points: 
  • SAN DIEGO, July 18, 2023 (GLOBE NEWSWIRE) -- Stockholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of Arconic Corporation (NYSE: ARNC) (“Arconic” or the “Company”) breached their fiduciary duties in connection with the proposed sale of the Company to Apollo Global Management, Inc. (NYSE: APO) (“Apollo”).
  • If you are a stockholder of Arconic and believe the proposed buyout price is too low or you're interested in learning more about the investigation, please contact lead analyst Jim Baker ( [email protected] ) at 619-814-4471.
  • Additionally, you can click or copy and paste the following link:
    There is no cost or obligation to you.
  • On May 4, 2023, Arconic announced that it has entered into a definitive agreement to be acquired by Apollo.

ARCONIC INVESTOR ALERT by the Former Attorney General of Louisiana: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of Arconic Corporation - ARNC

Retrieved on: 
Friday, June 30, 2023
Class Action Lawsuit, Professional Services, Legal, ARNC, Sale, KSF, NYSE, Apollo Global Management, APO, Arconic

and the law firm of Kahn Swick & Foti, LLC (“KSF”) are investigating the proposed sale of Arconic Corporation (NYSE: ARNC) to affiliates of Apollo Global Management, Inc. (NYSE: APO).

Key Points: 
  • and the law firm of Kahn Swick & Foti, LLC (“KSF”) are investigating the proposed sale of Arconic Corporation (NYSE: ARNC) to affiliates of Apollo Global Management, Inc. (NYSE: APO).
  • Under the terms of the proposed transaction, shareholders of Arconic will receive $30.00 in cash for each share of Arconic that they own.
  • KSF is seeking to determine whether this consideration and the process that led to it are adequate, or whether the consideration undervalues the Company.
  • To learn more about KSF, whose partners include the Former Louisiana Attorney General, visit www.ksfcounsel.com .

STOCKHOLDER ALERT: The M&A Class Action Firm Continues Investigating the Merger – REUN, ARNC, PTRS, FOCS

Retrieved on: 
Wednesday, June 14, 2023
PTRS, FOCS, ARNC, Empire, Sale, Monteverde, MPM, NYSE, Apollo Global Management, Security (finance)

Under the terms of the agreement, REUN shareholders will receive $1.12 in cash per share they own.

Key Points: 
  • Under the terms of the agreement, REUN shareholders will receive $1.12 in cash per share they own.
  • Under the terms of the agreement, ARNC shareholders are expected to receive $30.00 in cash per share they own.
  • Focus Financial Partners Inc. (NASDAQ: FOCS ), relating to its proposed sale to affiliates of Clayton Dubilier & Rice LLC.
  • Under the terms of the agreement, FOCS shareholders are expected to receive $53.00 in cash per share they own.

SHAREHOLDER ALERT: The M&A Class Action Firm Continues Investigating the Merger – RADI, FOCS, PTRS, ARNC

Retrieved on: 
Wednesday, June 7, 2023
PTRS, FOCS, ARNC, Empire, Sale, EQT, Monteverde, NYSE, Apollo Global Management, Security (finance)

Under the terms of the agreement, RADI shareholders are expected to receive $15.00 in cash per share they own.

Key Points: 
  • Under the terms of the agreement, RADI shareholders are expected to receive $15.00 in cash per share they own.
  • Focus Financial Partners Inc. (NASDAQ: FOCS ), relating to its proposed sale to affiliates of Clayton Dubilier & Rice LLC.
  • Under the terms of the agreement, FOCS shareholders are expected to receive $53.00 in cash per share they own.
  • Under the terms of the agreement, ARNC shareholders are expected to receive $30.00 in cash per share they own.

ALERT: The M&A Class Action Firm Continues Investigating the Merger - MYBF, FOCS, HMPT, ARNC

Retrieved on: 
Saturday, June 3, 2023
FOCS, ARNC, Empire, Sale, Acquisition, OTC, Monteverde, NYSE, Apollo Global Management, Security (finance)

Under the terms of the agreement, MYBF shareholders are expected to receive 0.9259 shares of CCFNB per share they own.

Key Points: 
  • Under the terms of the agreement, MYBF shareholders are expected to receive 0.9259 shares of CCFNB per share they own.
  • Focus Financial Partners Inc. (NASDAQ: FOCS ), relating to its proposed sale to affiliates of Clayton Dubilier & Rice LLC.
  • Arconic Corp. (NYSE: ARNC ), relating to its proposed sale to affiliates of Apollo Global Management, Inc.
  • Under the terms of the agreement, ARNC shareholders are expected to receive $30.00 in cash per share they own.

Arconic Presents 2030 Sustainability Goals, Launches REAL Commitment Campaign, and Publishes 2022 Sustainability Report

Retrieved on: 
Thursday, June 1, 2023
Manufacturing, Professional Services, Women, Recycling, DEI (Diversity, Equity and Inclusion), Other Manufacturing, Steel, Environment, Consumer, Machine Tools, Metalworking & Metallurgy, Sustainability, Life, Aluminium, Sustainability reporting, ARNC, Process, State Government Affairs Council, Woman, GHG, Carbon, REAL, Arconic, NYSE, Gender, Renewable energy

Leading aluminum sheet, plate, extrusions, and architectural products manufacturer Arconic Corporation (NYSE: ARNC) (“Arconic” or the “Company”) announced the details of its 2030 Sustainability Goals along with a campaign that will highlight the Company’s commitment and progress toward its sustainability agenda.

Key Points: 
  • Leading aluminum sheet, plate, extrusions, and architectural products manufacturer Arconic Corporation (NYSE: ARNC) (“Arconic” or the “Company”) announced the details of its 2030 Sustainability Goals along with a campaign that will highlight the Company’s commitment and progress toward its sustainability agenda.
  • The percentage of salaried women at Arconic reached 31% last year, which is high for companies in our industry.
  • With its sustainable and high-performing characteristics, aluminum is an essential part of everyday life,” said Lauren Wilk, Vice President, Government Affairs and Sustainability at Arconic.
  • The Company’s 2022 Sustainability Report is also published on the Company’s website at https://www.arconic.com/sustainability-report .