(Updates with statement from Ashland in fourth paragraph.)
Ashland (ASH) is facing pressure from activist investor Cruiser Capital Advisors to put itself up for sale, as it is unable to maximize shareholder value despite having attractive assets, Bloomberg reported Thursday, citing the investor's letter sent to Ashland's board.
Cruiser Capital said in the letter that certain potential acquirers will be able to reduce costs and realize synergies of at least $100 million, according to the report.
Ancora Alternatives, another activist investor, earlier in the month also asked Ashland to sell itself, the report said.
In an emailed statement to, Ashland said it values the feedback it receives from investors and "will continue to make decisions based on the best interest of the company and all its shareholders."
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