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Chemical Week Magazine :: Business & Finance :: United States/Americas
Hedge fund advocates MLP for Calgon Carbon
7:12 AM MST | November 8, 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 tells it that the activated carbon business, which primarily sells and...
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