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...
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