[ad_1]
Bim/E+ by way of Getty Photos
Huntsman (HUN +2.0%) says board candidates nominated by activist shareholder Starboard Worth “lack important experience, add no incremental worth, usually are not actually impartial of Starboard.”
“Starboard’s marketing campaign is pointless, unwise and dangers worth destruction,” Huntsman says concerning the proxy contest launched in January when the 8.6% shareholder nominated 4 board candidates.
Huntsman says the hedge fund destroyed worth at chemical firm GCP Utilized Applied sciences following a proxy combat in 2020.
Starboard stated earlier this week that Huntsman has “considerably underperformed its friends and each the chemical substances and broader market indices,” and has a “troubling historical past of missed guarantees and failed commitments to shareholders.”
As a part of a brand new investor presentation, Huntsman additionally says it’s on a “clear path to ship greater than 300 foundation factors of incremental adjusted EBITDA margin throughout the subsequent 36 months, assembly goal of 18%-20% margins by 2024.”
Huntsman has “proven a four-year decline in income, however the contextualized numbers usually are not as unhealthy as they replicate on the earnings assertion,” A Kashyap writes in a bullish evaluation posted not too long ago on Looking for Alpha.
[ad_2]
Source link
