E. I. du Pont de Nemours and Company (NYSE:DD) has released a lengthy presentation in response to the proxy fight taking place between it and Nelson Peltz‘ activist fund Trian Partners, and some of the assertions made by that investor. Among other things, the fund is seeking the replacement of four members of the company’s board, and the breakup of the 212-year-old company into separate chemicals and agricultural businesses. Trian has claimed such a split could save the company anywhere from $2 to $4 billion annually. E. I. du Pont de Nemours and Company (NYSE:DD) paints quite a different picture in its presentation, claiming that not only would a split cost the company $4 billion initially, but that the company would lose $1 billion annually on top of that, due to increased administrative and legal fees. DuPont has urged shareholders to vote against Trian’s board nominees, declaring that none of them would add any value or skills relevant to shaping the company, and that they lack experience in the chemicals industry.
In a response to the presentation, a Trian spokesperson told the Wall Street Journal that “DuPont is attempting to distract and mislead shareholders from the real issues at the company”.
Check out E. I. du Pont de Nemours and Company (NYSE:DD)’s full presentation below.