
Arconic Inc Investor Relations is dedicated to keeping investors informed about the company's performance and future prospects. Arconic Inc Investor Relations regularly updates its website with the latest financial reports and presentations.
The company's leadership team engages with investors through various channels, including quarterly earnings calls and investor conferences. Arconic Inc Investor Relations also provides a platform for investors to ask questions and receive answers directly from the company's management.
Arconic Inc Investor Relations recognizes the importance of transparency and accountability in building trust with investors. The company's commitment to investor relations is evident in its efforts to provide timely and accurate information about its operations and financial performance.
By staying informed about Arconic Inc Investor Relations, investors can make more informed decisions about their investments and stay ahead of the curve in terms of the company's future growth prospects.
Worth a look: Meta Financial Group
Arconic Inc Acquisition
Arconic Inc was formed in 2017 through the spin-off of Alcoa's downstream business.
The company has undergone significant restructuring efforts since its inception.
Arconic Inc acquired Alcoa's downstream business, which included its aluminum rolled products, aluminum extrusions, and building solutions businesses.
In 2018, Arconic Inc acquired Alcoa's Engineered Products business, which included its fastening systems and specialty fasteners businesses.
These acquisitions have helped Arconic Inc expand its product offerings and customer base.
Arconic Inc's acquisition of Alcoa's downstream business marked a significant milestone in the company's history.
The acquisitions have also helped Arconic Inc improve its operational efficiency and reduce costs.
Investor Concerns
Arconic's investor relations have raised some serious concerns. A shareholder, Robert Garfield, has filed a lawsuit against the company, alleging that it undervalued its share price and misled investors during Apollo Global Management's $5.2 billion takeover.
The deal only paid $30 per share, which is allegedly "inadequate" according to Garfield. Arconic's own financial advisors, Goldman Sachs and Evercore Group, determined that the shares should be as much as $39 per share.
Arconic's investors will receive over 23% less for their shares than the shares' intrinsic value. This translates to a collective loss of over half a billion dollars in value.
Garfield claims that Arconic accepted the bid to go private to enrich the company's executives. Arconic CEO Timothy Myers will receive a payout of more than $28.2 million, become a highly compensated employee, and have an ownership interest that enables him to future profits.
Other investors will no longer have equity interests in the company once it goes private. This is a significant change in their investment, and it's natural to feel concerned about the implications.
The buyout is also tainted by Arconic's engagement with Goldman Sachs and Evercore. Garfield accuses the financial advisors of a conflict of interest because they have "deeply entrenched and highly lucrative business dealings with counterparty Apollo."
Goldman Sachs received fees of around $100 million from Apollo, while Evercore received around $117 million. This raises questions about the fairness of the deal and the motivations of the financial advisors involved.
Arconic executives filed a proxy statement with the SEC encouraging investors to vote for the Apollo takeover. However, the proxy contained false statements about the potential conflicts of interest between Arconic executives and their financial advisors.
On a similar theme: Relative Value Strategy
Frequently Asked Questions
Is Arconic publicly traded?
No, Arconic is not publicly traded after completing a transaction. It has transitioned to a private company, no longer listed on the New York Stock Exchange.
How much is the Arconic company worth?
Arconic's market value is approximately $3.00 billion USD as of October 20, 2023. This figure represents the total market worth of the company's outstanding shares.
Who is the owner of Arconic Corporation?
Arconic Corporation is owned by Apollo Global Management, a private equity firm, following its acquisition on August 18, 2023. Apollo Global Management acquired Arconic in a significant deal.
Sources
- https://www.foxbusiness.com/markets/arconic-inc-arnc-q4-2018-earnings-conference-call-transcript
- https://www.stocktitan.net/news/ARNC/arconic-to-be-acquired-by-apollo-lsos5n4wx6ec.html
- https://www.citybiz.co/article/412477/arconic-to-be-acquired-by-apollo-funds/
- https://www.usglassmag.com/investor-claims-shady-deals-underfoot-during-5-2-billion-arconic-sale/
- https://uk.marketscreener.com/quote/stock/ARCONIC-CORPORATION-104922915/news-press-releases/
Featured Images: pexels.com