Elliott Management Releases Klaus Kleinfeld Letter
April 19 2017 - 10:35PM
Business Wire
Click Here to View the Letter
and Elliott’s Private Responses
Elliott Management Corporation (“Elliott”), which manages funds
that collectively beneficially own a 13.2% economic interest in
Arconic Inc. (NYSE:ARNC) (“Arconic” or the “Company”), today
released the following statement:
On Monday, April 17, Arconic explained that Klaus Kleinfeld’s
mutually agreed-upon resignation was the consequence of a letter he
had sent directly to a senior officer of Elliott Management. Having
made it clear to the public that there had been such a letter and
that it was sufficiently serious to cause Mr. Kleinfeld’s
resignation, Arconic created a public frenzy for further
information, and now various parties are disclosing portions of the
letter. So Elliott believes it has no choice but to release Mr.
Kleinfeld’s complete letter and our private responses first to the
letter and then to Arconic’s public announcement of the letter on
April 17.
The letters can be viewed at
http://newarconic.com/klaus-kleinfeld-letter/.
Additional Information
Elliott Associates, L.P. and Elliott International, L.P.
(collectively, “Elliott”), together with the other participants in
Elliott’s proxy solicitation, have filed a definitive proxy
statement and accompanying BLUE proxy card with the Securities and
Exchange Commission (“SEC”) to be used to solicit proxies in
connection with the 2017 annual meeting of shareholders (the
“Annual Meeting”) of Arconic Inc. (the “Company”). Shareholders are
advised to read the proxy statement and any other documents related
to the solicitation of shareholders of the Company in connection
with the Annual Meeting because they contain important information,
including information relating to the participants in Elliott’s
proxy solicitation. These materials and other materials filed by
Elliott with the SEC in connection with the solicitation of proxies
are available at no charge on the SEC’s website at
http://www.sec.gov. The definitive proxy statement and other
relevant documents filed by Elliott with the SEC are also
available, without charge, by directing a request to Elliott’s
proxy solicitor, Okapi Partners LLC, at its toll-free number
1-877-869-0171 or via email at info@okapipartners.com.
About Elliott
Elliott Management Corporation manages two multi-strategy hedge
funds which combined have more than $32 billion of assets under
management. Its flagship fund, Elliott Associates, L.P., was
founded in 1977, making it one of the oldest hedge funds under
continuous management. The Elliott funds’ investors include pension
plans, sovereign wealth funds, endowments, foundations,
funds-of-funds, high net worth individuals and families, and
employees of the firm.
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version on businesswire.com: http://www.businesswire.com/news/home/20170419006787/en/
Media:Elliott Management CorporationStephen Spruiell,
212-478-2017sspruiell@elliottmgmt.com
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