D.E. Shaw throws support to Mantle Ridge in Air Products board fight [Yahoo! Finance]
Linde plc (LIN)
Last linde plc earnings: 2/13 07:10 am
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Source: Yahoo! Finance
Products and Chemicals and is now supporting a rival activist's efforts instead of pressing ahead with its own board challenge, sources familiar with the matter said on Thursday. D.E. Shaw no longer plans to nominate a slate of directors to the company's board and will support the campaign launched by Mantle Ridge, the activist firm run by Paul Hilal, the people said. The two hedge funds merged their efforts days after each said separately that the company needs new directors on the board, a succession plan for its octogenarian CEO, should allocate its capital differently and scale back on risky projects. D.E. Shaw was concerned about Air Products' sharp rise in capital expenditures and its bet on a clean hydrogen strategy, telling management that its recent decisions made it look more like a "high risk commodity trading business" instead of the "stable industrial gas infrastructure business" that it has historically operated. It also told the company that changes could create
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LIN
Earnings
- 10/31/24 - Beat
LIN
Sec Filings
- 12/17/24 - Form 4
- 12/16/24 - Form 144
- 12/12/24 - Form 4
- LIN's page on the SEC website