It doesn’t take long for Donald Trump’s animal magnetism to overtake a person. Why, less than a month after joining his campaign finance committee, Anthony Scaramucci had basically turned into a verbal doppelgänger of the next president of the United States.
So, it seems, it is with even Paul Singer. It’s been just three-and-a-half months since the Elliott Management chief came to terms with the new president and the guaranteed “widespread global depression” he rode in on, and just a month since he had some facetime with The Donald. Now, he’s throwing around accusations of voter fraud.
What has unleased the tin-foil-hatted-one inside the normally cool, collected and ruthless Singer? Why, the massively, abysmally underperforming folks at Arconic, whose latest we’ll admit is a doozy.
Last week, Arconic disclosed that in August 2016 the company had reached a two-year deal with its sixth biggest shareholder, Oak Hill, which had agreed to vote in favor of directors nominated by Arconic's board.
The deal was part of a resolution of a "working capital adjustment" in connection with Arconic's acquisition of aircraft parts maker Firth Rixson from Oak Hill….
Elliott said on Monday that Arconic's board must take immediate action to dismiss anyone who devised, authorized and participated in negotiating the "secret vote-buying agreement", thereby "converting company assets for personal benefit".