Reuters reveals Huntsman Corp beats Starboard's board challenge, shares tumble - Reuters News Agency

Reuters reveals Huntsman Corp beats Starboard’s board challenge, shares tumble

Shares of Huntsman Corp dropped 13% after Reuters was first to report hedge fund Starboard Value LP lost a fight to replace four directors at the U.S. specialty chemicals company. Starboard, which owns 8.8% of Huntsman, argued that the chemicals manufacturer needs a shake-up to improve its financial performance. The hedge fund also said the company’s board was captive to CEO Peter Huntsman, whose father founded the company in 1982.

Article Tags
Topics of Interest: Deals
Type: Reuters Best
Sectors: Business & Finance
Regions: North America
Win Types: Speed
Media Types: Text
Customer Impact: Important Regional Story
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