Ashland Water Technologies Sale Anticipated By Jana Partners

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Mark Melin
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Specialty chemical company Ashland Inc. (NYSE:ASH) will sell its Ashland Water Technologies to a fund managed by Clayton, Dubilier & Rice in a transaction valued at approximately $1.8 billion. Ashland’s move anticipated by activist hedge fund The move was anticipated by activist hedge fund Jana in their 4th quarter investor letter. The December 2013 Jana letter noted Ashland Inc. (NYSE:ASH) had announced Stephen Kirk joined the board of directors, a candidate that JANA introduced to Ashland.  In the same breath the December letter noted that Ashland management indicated to Jana the sale of the water division was on track for the first quarter…

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Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.