Elliott urges Arconic to elect all four shareholder nominees

on Apr25

Paul Singer, founder of Elliott Management, speaking at Delivering Alpha in New York on Sept. 13, 2016.

David A. Grogan | CNBC

Paul Singer, founder of Elliott Management, speaking at Delivering Alpha in New York on Sept. 13, 2016.

Activist hedge fund Elliott Management on Tuesday issued a fresh letter to specialty metals maker Arconic’s shareholders, urging them to elect all of its four shareholder nominees to Arconic’s board.

Elliott’s latest pressure comes a day after Arconic said it was willing to nominate two of Elliott’s director nominees to its board.

Elliott on Monday said it has not nominated any of its employees or affiliates to Arconic’s board and that shareholder nominees will have no ties with Elliott.

Since early this year, the two sides have been locked in a brutal battle for control of the company’s board, with Elliott nominating five directors.

Arconic said on Monday it was postponing its annual meeting from May 16 to the end of the month.



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