dupont trianbacked breakup would cost 4bn
Last Updated : GMT 16:22:18
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DuPont: Trian-backed breakup would cost $4bn

Arab Today, arab today

Arab Today, arab today DuPont: Trian-backed breakup would cost $4bn

DuPont
New York - AFP

Trian Fund Management's proposal to break up DuPont would cost $4 billion, DuPont said Monday as it stepped up its defense against Trian ahead of a shareholder vote.
The Trian plan to split the chemical giant in two "would result in significant destruction of shareholder value," said DuPont, which opposes four board nominees supported by the activist fund.
A DuPont presentation to shareholders listed $4 billion in "upfront" costs associated with a break-up, including debt breakage, separation charges and tax implications.
A breakup would also add $1 billion in annual costs from duplicative administrative expenses and reduced tax planning efficiency, DuPont said.
The DuPont presentation came ahead of a May 13 shareholder vote on Trian's nomination of fund founder Nelson Peltz and three others to the DuPont board.
Trian, which holds about three percent of DuPont shares, has accused the chemical giant of wasteful spending and chronic underperformance.
Trian has pulled back from requiring a break-up of DuPont, but has said such a split should be considered as a means to improve returns.

 

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