IHS Chemical Week
FINANCIAL

Trian files new DuPont proxy, slams Kullman over stock options

1:37 PM MDT | March 25, 2015 | Vincent Valk

Activist hedge fund Trian fund Management (New York) today filed a definitive proxy statement with SEC for its four director nominees to stand for election to DuPont’s board at the company’s next annual meeting. The four nominees are Trian founder...


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S&P: Cheap oil will have little impact on chemical industry's credit

Low-cost oil, while a positive for some chemical companies and a negative for others, is unlikely to have a major impact on the industry’s credit quality, according to report by Standard & Poor’s (S&P; New York), a credit ratings agency...

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...

ACC's CAB flat sequentially in March

ACC’s Chemical Activity Barometer (CAB), a leading economic indicator and measure of industry activity, was flat sequentially in March after 0.3% and 0.1% upward revisions in January and February, respectively. On a year-on-year (YOY) basis, the CAB...

European benzene stronger ahead of CP talks

With European spot prices for benzene moving back up to $700 per mt CIF ARA, a triple digit increase in the April contract price looks feasible as the length which weighed on March discussions has been cleared by an ongoing open arbitrage to the US during...

OM Group, FrontFour reach agreement on board seats

OM Group and activist hedge fund FrontFour Capital (New York) have reached an agreement regarding the composition of the company’s board. Under the agreement, OM Group will nominate FrontFour co-founder David Lorber, and A Schulman chairman Joseph Gingo...

DuPont releases proxy materials in Trian fight

DuPont today filed proxy materials with SEC recommending that shareholders vote for its 12 board nominees in its ongoing fight with activist hedge fund Trian Fund Management (New York). The vote will occur at DuPont’s annual meeting on 13 May...

Platform Specialty Products reports loss on charges

Platform Specialty Products today reported a fourth-quarter net loss of $266.7 million, compared with a loss of $200.1 million in the year-ago quarter. Net sales grew 47.7% year-on-year (YOY), to $273.6 million. The loss was primarily due to charges related...

One Rock Capital buys stake in Compass Chemical

One Rock Capital (New York), a private equity firm associated with Mitsubishi Corp., has purchased a stake in Compass Chemical (Smyrna, GA), a maker of organophosphates. Terms of the deal, including financial details, have not been disclosed. Holding company...

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...

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