Tagged AA

Elliott Sees Alcoa Dramatically Undervalued

Elliott filed a 13D disclosing a 6.4% position in Alcoa via shares, call options and swaps. The Reporting Persons purchased the securities of the Issuer reported herein based on their belief that such securities are dramatically undervalued by the public market. The Reporting Persons believe the spin-off transaction recently announced by management will create value…

Alcoa to Split into Two

Alcoa is today announcing that its Board of Directors has unanimously approved a plan to separate into two independent, publicly-traded companies.  The transaction is expected to be completed in the second half of 2016. At that point Alcoa shareholders will own all of the outstanding shares of both the Upstream and Value-Add Companies. The separation is…