Deals
DuPont Activist Peltz Pushes for Breakup of Conglomerate
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DuPont Co. activist investor Nelson Peltz called for a breakup of the third-largest U.S. chemical company and criticized its board for failing to meet earnings targets and destroying shareholder value.
DuPont has as much as $4 of billion excess costs and should separate its agriculture, health and nutrition operations from other, more cyclical businesses, Peltz’s Trian Fund Management LP said in a statement today. Trian will meet with other shareholders to present its views on how to double the share price in three years. Wilmington, Delaware-based DuPont rose as much as 4.8 percent.