Tag Archives: Alcoa

After Failed Sale, Arconic Plans Spinoff, But Not Quite Sure Of What It Will Spin Off

Last month, Arconic(ARNC) announced suddenly that it had failed to find a buyer willing to pay enough for the whole company and was ending the sale process.  Now, it is trying a different approach, announcing that it plans to spin off one of two businesses:  Engineered Products & Forgings or Global Rolled Products. It will also attempt to sell… Read More »

Arconic Not Ready For Showtime At The Apollo – Arconic Plunges As The Alcoa Spinoff Rejects Apollo Bid

With apologies to the Beatles: Yesterday, Arconic’s stock price began to fade away An expected buyout had been pushed away Elliott needs to find another way It was this close to a deal, but Arconic(ARNC) announced yesterday that it was no longer pursuing a sale of the company. Last week, the Wall Street Journal had reported that a… Read More »

Isn’t It Arconic, Don’t You Think? Like A Private Equity Bid After Your Spinoff

The WSJ is reporting that Arconic (ARNC) is nearing a deal with private equity firm Apollo Global Management (APO) to be taken private. While the exact deal value is unknown right now, estimates peg Arconic’s value at over $10b or between $21 and $22 per share. The price represents a modest premium to recent close, but the name… Read More »

Alcoa Completes Its Spinoff From Newly Renamed Arconic

On November 1, Alcoa(AA) completed its spinoff from the former Alcoa, now named Arconic(ARNC).  The new Alcoa is “is a globally cost-competitive industry leader in bauxite, alumina and aluminum products, positioned to succeed throughout the market cycle.” “We are launching Alcoa Corporation as a world leader in the aluminum industry with distinct competitive advantages across the value chain,”… Read More »

Plans For A Sale Foiled, Rio Tinto Pulls Back Pacific Aluminium. Is Alcan Spin Off Ahead?

In July 2007, when Rio Tinto(RIO) announced it would be purchasing Alcan for $38.1 billion in the largest mining acquisition ever, new CEO Tom Albanese was ecstatic.  His bold move, beating out a  $27 billion hostile bid from former Alcan parent Alcoa(AA) proved disastrous.  Earlier this year, Albanese was forced to resign after writing down over $25 billion… Read More »