Reported about 1 month ago
Hedge fund D.E. Shaw has shifted its strategy and is now supporting Mantle Ridge in its campaign for board changes at Air Products and Chemicals, opting not to nominate its own directors. This decision follows concerns about Air Products' rising capital expenditures and its focus on clean hydrogen strategies, with D.E. Shaw suggesting that leadership changes could significantly increase the company's equity value. The stock price of Air Products rose sharply after the news of this collaboration between two major investors.
Source: YAHOO