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DuPont wins proxy battle with Trian (update)

2:21 PM MDT | May 15, 2015 | Vincent Valk in Wilmington, DE

DuPont this morning won its proxy battle with activist hedge fund Trian Fund Management (New York), as all four of the company's director nominees were re-elected to its board, company officials announced at its annual meeting Wednesday morning. DuPont is...


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Glass Lewis backs Peltz in bid for DuPont board seat

Proxy advisory firm Glass Lewis (San Francisco) has backed Trian founder and CEO Nelson Peltz in his bid for a seat on DuPont’s board of directors. Trian, which owns a $1.8-billion stake in DuPont, has been pushing for a board seat for Peltz since at...

Trian praises ISS recommendations on DuPont

Activist hedge fund Trian management today released a letter to DuPont shareholders praising a report put out by the Institute for Shareholder Services (ISS; Rockville, MD) on Monday. The report endorsed two of Trian’s nominees for DuPont’s board...

ACC: US chemical production posts 4.2% YOY gain

Chemicals production in the United States grew by 4.2% on a year-on-year (YOY) basis in February, the largest gain since 2010, according to ACC’s US chemical production regional index (CPRI). On a three-month moving average (3MMA) sequential basis, the...

Trian releases new letter, seeks Chemours board seats

Activist hedge fund Trian Fund Management (New York) today released a letter to DuPont management commenting on fund founder and CEO Nelson Peltz’s experience on corporate boards. The letter calls Peltz “a distinguished investor and...

Chemical tanker shipping industry faces a challenging year

Chemical tanker shipping faces another tough year of falling freight rates in 2015 but the industry is expected to recover next year, according to consulting firm Drewry (London). "Uncertainty over the economic outlook and the recent fall in oil prices...

Moody's: strong dollar mildly negative for US chemical companies

The strengthening US dollar will be a mild negative for the credit for major US chemical companies, according to a new report by Moody’s Investors Service (New York), a ratings agency. It will be a more significant headwind for companies with large...

ACC: Specialties market volumes decline in January

US specialty chemical market volumes fell 0.5% on a sequential basis in January, following gains of 0.3% and 0.6%, respectively, in November and December, according to ACC. The drop was due partly to bad weather, and partly to “weakness in oilfield...

Momentive Specialty Chemicals to change name back to Hexion

Momentive Specialty Chemicals (MSC) announced today that it is rebranding itself Hexion, the company’s old name, effective 15 January 2015. The company was renamed Momentive Specialty Chemicals when it was merged with Momentive Performance Materials...

Accenture to provide business and IT support services to Sadara

Accenture, a management consulting firm, and Sadara, a joint venture being developed by Saudi Aramco and Dow Chemical, have signed a multi-year agreement under which Accenture will provide business and IT support services to Sadara, leading to the opening of...

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