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id: 699, Created by Stan Vick, Scout
Arconic (ARNC) M&A Case
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S.D. New YorkCourt
On May 4, 2023, Arconic Corporation (NYSE: ARNC) announced that it entered into a definitive agreement to be acquired by funds managed by affiliates of Apollo Global Management, Inc. (NYSE: APO) in an all-cash transaction where Arconic shareholders will receive $30.00 per share in cash.
Taking the usual premium paid in such deals into account, Investors of $ARNC may have reasons to suspect that the pricing terms of the M&A transaction with $APO are unfair and the proxy statement in favor of the transaction fails to disclose material information.
Failure to Disclose,
Breach of Fiduciary duty,
Shock Event Date
04 May 2023