February 8, 2019 / 1:22 PM / 5 months ago

Arconic plans to split up its two core businesses

Feb 8 (Reuters) - U.S. aluminum products maker Arconic Inc said on Friday it would split its portfolio between the company’s two core businesses - the aircraft and power generation components unit, and the sheet and plate products division - with one of them being spin off at a later date.

The announcement follows Chairman John Plant taking on the role of chief executive officer earlier this week, as Arconic rejected a takeover bid by private equity firm Apollo Global Management last month. (Reporting by Ankit Ajmera in Bengaluru; Editing by James Emmanuel)

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