(New York Post) So you want to protect your retirees’ pensions? That could get you into trouble with the state of Delaware.Elliott Management — reeling from the surprise rejection of a $10 billion takeover offer for aluminum giant Arconic earlier this week — is discussing a surprising legal argument to revive the deal, The Post has learned.
Specifically, the activist hedge fund headed by billionaire Paul Singer believes that New York-based Arconic decided to reject the bid from buyout firm Apollo Global Management partly because it didn’t adequately cover the company’s pension obligations, according to sources close to the situation.
