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People & Business :: Earnings/Finance

Activist investor buys Ashland stake

2:34 PM MDT | April 26, 2013 | —Vincent Valk

Jana Partners (New York), an activist investor that agitated for the breakup of Agrium last fall, has purchased a 7.4% stake in Ashland, according to a regulatory filing. While Jana has not publicly stated any proposals for Ashland, analysts say asset sales are likely. “We believe [the] filing by a well-known activist will accelerate what was likely already to occur at Ashland over the next 12–24 months: the sale of water technologies and performance materials and the tax-efficient spin of Valvoline,” says David Begleiter, an analyst with...

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