On Tuesday, Ashland Inc (NYSE:ASH)’s shares inclined 2.63% to $108.50.
Ashland Inc. (ASH) declared that its board of directors has approved proceeding with a plan to separate Ashland into two independent, publicly traded companies. Recent declaration follows a comprehensive planned planning review by the company`s global leadership team to better understand Ashland`s markets, customers and the opportunities for each business to create the most value for shareholders, customers and employees. It also represents the final step in Ashland`s more than decade-long transformation from an oil refiner and marketer to a specialty chemicals company, during which the company accomplished dozens of acquisitions and divestitures.
The New Ashland
The new Ashland will be a global leader in providing specialty chemical solutions to customers in a wide range of consumer and industrial markets. These markets are presently served by Ashland`s Chemicals Group, comprising Ashland Specialty Ingredients and Ashland Performance Materials. Key markets and applications comprise pharmaceutical, personal care, food and beverage, architectural coatings, adhesives, automotive, construction and energy. Together these businesses generated about $3.6 billion in sales for the 12 months ended June 30, 2015.
The new Ashland will focus on: driving growth in higher-margin, highly differentiated core product lines where the company assists customers succeed; leveraging the innovation pipeline by driving new product introductions; optimizing the business and product portfolio; and taking a disciplined approach to capital investment.
Ashland Inc. operates as a specialty chemicals company worldwide. The company’s Specialty Ingredients segment provides products, technologies, and resources for solving formulation and product-performance challenges. It offers solutions using natural, synthetic, and semisynthetic polymers derived from plant and seed extract, cellulose ethers, and vinyl pyrrolidones, in addition to acrylic and polyurethane-based adhesives for consumer and industrial applications.
Olin Corporation (NYSE:OLN)’s shares dropped -0.97% to $17.86.
Olin Corporation (OLN) declared that its shareholders overwhelmingly approved the issuance of shares of Olin common stock and an amendment to Olin’s Amended and Restated Articles of Incorporation to enhance the number of authorized shares of Olin common stock necessary to complete the pending merger with The Dow Chemical Company’s (DOW) U.S. Chlor-Alkali and Vinyl, Global Chlorinated Organics and Global Epoxy businesses. The transaction is still subject to customary closing conditions. The merger is predictable to be accomplished early next month.
The Dow Chemical Company manufactures and supplies products that are used primarily as raw materials in the manufacture of customer products and services worldwide. It operates through Agricultural Sciences, Consumer Solutions, Infrastructure Solutions, Performance Materials & Chemicals, and Performance Plastics segments.
At the end of Tuesday’s trade, Ingersoll-Rand PLC (NYSE:IR)‘s shares dipped -1.61% to $53.93.
Ingersoll Rand (IR), a world leader in creating comfortable, sustainable and efficient environments, has been named to the 2015 Dow Jones Sustainability World and North America Indices for the fifth successive year. Ingersoll Rand’s placement on this index series further solidifies its position as an economic, environmental and social leader in its industries.
Ingersoll Rand products and services assist save energy, transport food and perishables, and spur economic growth. Our business operations reflect a longstanding commitment to innovation, sustainability and corporate citizenship aimed at leading the way to a better world. Our economic, environmental and social contributions enhance the company’s financial results, creating value for our employees, shareholders and business partners.
Ingersoll-Rand plc, together with its auxiliaries, designs, manufactures, sells, and services a portfolio of industrial and commercial products. It operates through Climate and Industrial segments.
Depomed Inc (NASDAQ:DEPO), ended its Tuesday’s trading session with -12.68% loss, and closed at $24.18.
Depomed, Inc. (DEPO) declared that its Board of Directors, after careful consideration and in consultation with its financial and legal advisors, has unanimously determined to recommend that shareholders reject Horizon Pharma plc’s (HZNP) unsolicited exchange offer to acquire all of the outstanding shares of Depomed at an exchange ratio of 0.95 of an ordinary Horizon share for each share of Depomed.
In reaching its recommendation that shareholders reject Horizon’s exchange offer, the Depomed Board of Directors considered numerous factors in consultation with Depomed’s administration and advisors. These factors and the basis for the Board’s decision are described in detail in Depomed’s Plan 14D-9, which has been filed with the Securities and Exchange Commission, and published on the Company’s website at www.depomed.com.
Depomed, Inc., a specialty pharmaceutical company, develops products for pain and other central nervous system conditions in the United States. It offers Gralise (gabapentin), an once-daily product for the administration of postherpetic neuralgia; CAMBIA (diclofenac potassium for oral solution), a non-steroidal anti-inflammatory drug indicated for acute treatment of migraine attacks in adults; Zipsor (diclofenac potassium) liquid filled capsule, a non-steroidal anti-inflammatory drug for the treatment of mild to moderate acute pain in adults; and Lazanda (fentanyl) nasal spray, an intranasal fentanyl drug used to manage breakthrough pain in adults.
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