Alcoa announces plan for 1-for-3 reverse split

• Alcoa (NYSE:AA) says it plans to undertake a one-for-three reverse stock split, and will hold a special meeting on Oct. 5 to seek shareholder approval.
• Alcoa expects the move will improve liquidity and facilitate trading in the stock.
• Alcoa also says it plans to effect the reverse split and resulting share count reduction to 600M from 1.8B prior to the previously announced separation of the company.