Arconic broached a potential compromise in a bruising proxy battle with Elliott Management, saying it would be willing to hand over two of the four board seats sought by billionaire Paul Singer’s New York hedge fund.
The Arconic board will “promptly appoint” two of Elliott’s candidates if they confirm they’re willing to be nominated by April 26, according to a statement Monday. The May 16 annual meeting will be delayed to later in the month to allow for ballot changes at the maker of aluminium parts for autos and aircraft.
