Investment firm Mantle Ridge acquires over $1B stake in Air Products & Chemicals, proposing succession planning and strategic changes.

Activist investment firm Mantle Ridge has acquired a stake exceeding $1 billion in Air Products & Chemicals, causing the company's shares to rise nearly 8%. Led by Paul Hilal, Mantle Ridge plans to advocate for succession planning for CEO Seifi Ghasemi and aims to enhance the company's strategy and capital allocation. Historically, Mantle Ridge has successfully influenced changes in other companies, raising expectations for Air Products' future performance.

October 07, 2024
6 Articles