Arconic No Longer Pursuing Sale
By Metal Center News Staff
on Jan 22, 2019
The board of directors for Arconic Inc. has determined to halt pursuit of a potential sale of the company. The determination was made as part of its strategy and portfolio review.
“Together with management, we have been conducting a rigorous and comprehensive strategy and portfolio review over the past year and as part of that process considered a sale of the company, among other matters,” said Board Chairman John C. Plant. “However, we did not receive a proposal for a full-company transaction that we believe would be in the best interests of Arconic’s shareholders and other stakeholders.”
Arconic will continue to pursue the sale process of the company’s Building and Construction Systems business, he added. “More broadly, we remain strongly focused on creating value for Arconic shareholders, through continued operational improvements and through other potential initiatives which we have identified in our strategic review.”