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Market Chatter: Ashland Moves Toward Agreement With Activist Investor Ancora

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Ashland (ASH) is heading toward a settlement with activist investor Ancora Holdings Group that would add two directors to the chemical company's board, Bloomberg reported Tuesday, citing people familiar with the matter.

Under the agreement, which is expected to be announced as early as Tuesday, Ashland will also create a capital allocation committee, though the timing and details may still change or the accord may still fall apart, the report said.

Ashland and Ancora did not immediately respond to requests for comment from.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: $68.14, Change: $+1.76, Percent Change: +2.65%

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