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 »
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 »
Let’s kick off the week with some deal talk. Last week we touched on Apollo’s (APO) potential buyout of Arconic (ARNC) and if completed, it would just be another example of spinoff/parent company being taken out. Once the separation announcement is made or even the ‘strategic alternatives’ one, the market knows that a sale is possible. In that vein,… Read More »
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 »
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 »
There are a number of spinoffs scheduled to be completed at the end of this month (October) or in early November and naturally, there are a few scheduled changes to the S&P indices as a result. Here is a summary of the changes which will occur over the next week or so: HCP Inc (HCP) is spinning off Quality… Read More »