Arconic (ARNC) - Get Report , the Alcoa (AA) - Get Report spinoff that makes aerospace components, has settled with activist investor Paul Singer and his Elliott Management firm, agreeing to a deal to end a bitter proxy fight over the future of the firm, CNBC reports.

The fight has already claimed the scalp of former CEO Klaus Kleinfeld and was headed for a nasty fight and divisive vote at an upcoming shareholder meeting.