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Cruiser Says Ashland Could Be Worth More Than $125 Per Share

Investor urges chemicals maker to deepen cost cuts in letter
Wants Ashland to speak with two of its board candidates

Pedestrians walk on Wall Street in front of the New York Stock Exchange (NYSE) in New York, U.S.Photographer: Victor J. Blue/Bloomberg

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By Scott Deveau and Jack Kaskey

November 20, 2018 at 2:00 PM UTC

Updated on

November 20, 2018 at 5:46 PM UTC

This article is for subscribers only.

Cruiser Capital Advisors is calling on Ashland Global Holdings Inc. to step up efforts to improve its performance, arguing the chemical company could be worth more than $125 a share if were to fix its operational issues.

Ashland should cut costs more aggressively and improve its margins to help eliminate the discount it trades at to peers, the New York-based investment firm said in a letter to the company reviewed by Bloomberg.