Ashland nears settlement with activist Ancora Holdings

Corporate Action
โดย Seeking Alpha·Read original
Summary · why it matters

Ashland Inc. is nearing an agreement with activist investor Ancora Holdings that would expand the chemical maker's board. Under the settlement, two directors will be added to the board and a capital allocation committee will be created, according to a Bloomberg report citing people familiar with the matter. The settlement may be announced as soon as Tuesday. The news follows reports that Ancora disclosed a significant stake and wants the company to pursue a sales process, believing Ashland could see at least $76 a share in a sale. Shares of Ashland rose 3.2% on Tuesday.

Impact on stocks 1

Materials▲ · 1 stocks
Ashland Global Holdings Inc
ASH
▲ PositiveCapitalrelevance

Settlement with activist to expand board and create capital allocation committee, likely to pursue sale process.

Off-coverage companies 1

Ancora Holdings GroupPrivate▲ Positive
Capitalrelevance

Activist investor nearing settlement that may lead to sale process, benefiting its stake.

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