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Market Chatter: Ashland Urged by Activist Ancora to Pursue Sale

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Ashland (ASH) was urged by activist Ancora Alternatives, which has built a significant stake in the company, to sell itself, as a deal could boost its share price by at least 30%, Reuters reported Tuesday, citing a presentation it reviewed.

The hedge fund said it is prepared to launch a proxy fight at Ashland if no tangible progress is made toward reaching a deal by the time the window to nominate board members opens in September, the report said.

Ashland and Ancora didn't immediately reply 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: $61.84, Change: $+4.38, Percent Change: +7.61%

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