(ARNC): Johnson Fistel Investigates Proposed Sale of Arconic Corporation; Is $30.00 a Fair Price?
Stockholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of Arconic Corporation (NYSE: ARNC) (“Arconic” or the “Company”) breached their fiduciary duties in connection with the proposed sale of the Company to Apollo Global Management, Inc. (NYSE: APO) (“Apollo”).
If you are a stockholder of Arconic and believe the proposed buyout price is too low or you’re interested in learning more about the investigation, please contact lead analyst Jim Baker (email@example.com) at 619-814-4471. If emailing, please include a phone number.
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On May 4, 2023, Arconic announced that it has entered into a definitive agreement to be acquired by Apollo. Shareholders would receive $30.00 per share in cash.
The investigation concerns whether the Arconic board failed to satisfy its fiduciary duties to the Company’s stockholders.
First, the investigation includes determining whether the board obtained the best price possible for Arconic shares of common stock and whether the board adequately pursued alternatives to the proposed acquisition.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized stockholder rights law firm with offices in California, New York, and Georgia. The firm represents individual and institutional investors in stockholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit https://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.