Brooke Sutherland, Columnist

Arconic's Fighting Words Necessitate Vote

Letting shareholders decide on its battle with Elliott Management isn't such a bad thing.

April 25, 2017 at 2:02 PM UTC

Brooke Sutherland is Bloomberg News' Boston bureau chief and writes the Industrial Strength Newsletter. She was previously a Bloomberg Opinion columnist covering deals and industrial companies and an M&A reporter for Bloomberg News.

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Proxy fight it is then.

On Monday, Arconic Inc. gave an update on settlement talks with Elliott Management Corp. over the activist investor's push for a board shake-up at the $11.7 billion metal-components maker. I didn't think it was possible for the situation to get any more dramatic after the vaguely threatening (and rather bizarre) letter to Elliott founder Paul Singer that cost Arconic CEO Klaus Kleinfeld his job, but here we are. Let's just say there doesn't appear to be a lot of settling happening.