IHS Chemical Week

People & Business :: Companies

Activist shareholder buys up Ashland stake, prompting asset sale rumors

11:38 AM MDT | April 15, 2013 | Vincent Valk

Jana Partners (New York), a hedge fund and activist shareholder, has purchased a 7.4% stake in Ashland and held discussions with company management regarding Ashland’s “business, corporate structure, capitalization, operations, strategy, and future plans,” according to a regulatory filing. Jana is a known activist shareholder, having agitated for the breakup of Agrium last fall.   While Jana has not publicly stated any proposals for Ashland, analysts say asset sales are likely. “We believe last week’s filing by a well-known...

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