PROXY SETTLEMENT
Specialty alloys manufacturer Arconic has reached agreement with activist shareholder Elliott Management and its affiliates, who together hold about 13.2% of the company, to resolve the pending proxy contest regarding the company’s May 25 annual general meeting (AGM).
NYSE-listed Arconic has agreed to Elliott’s nomination of Christopher Ayers, Elmer Doty and Patrice Merrin for election as directors at the upcoming annual meeting, and Arconic will nominate David Hess and Ulrich Schmidt for election as directors.
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