1. Arconic Drops Plan to Pursue Sale, Sending Shares Sinking

    Arconic Drops Plan to Pursue Sale, Sending Shares Sinking

    (Bloomberg) -- Arconic Inc. shocked investors as the board decided not to sell the company, scuttling a potential blockbuster buyout after months of negotiations. The shares plunged as much as 27 percent in early trading after the company said it “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.” Apollo Global Management LLC had been in talks to acquire the aerospace manufacturer in a deal valued at more than $10 billion, Bloomberg News had ...

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