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Hedge fund advocates MLP for Calgon Carbon

4:16 PM MST | November 4, 2013 | Vincent Valk

Activist hedge fund Starboard Value (New York), which effected a change in Calgon Carbon’s board earlier this year, has released a letter to management calling for the conversion of the company’s activated carbon business into a master limited partnership (MLP). Starboard, which owns a 9.7% stake in Calgon Carbon, says such an arrangement would reduce the company’s tax bill and lead to more cash for shareholders. Starboard says a law firm that has worked with MLPs in the past provided it with in an opinion that the activated carbon business...

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