(Bloomberg) Elliott Management Corp. may have fumbled on its campaign against aluminum-parts maker Arconic Inc., but CEO Klaus Kleinfeld still has some explaining to do.Arconic split from its mining and smelting business (now Alcoa Corp.) last year, a move Elliott backed. But the activist hedge fund said on Jan. 31 it was nominating five candidates to Arconic’s board and calling for Kleinfeld to be replaced with a CEO better suited to cut costs.
Elliott Misfires on Arconic, But It’s Not Wrong
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