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Business

Sensient Slugs Back At Activist Investors

by Marc S. Reisch
March 24, 2014 | A version of this story appeared in Volume 92, Issue 12

Sensient Technologies sent a letter to shareholders last week asking them to support the flavor and fragrance firm’s four nominees to its nine-member board instead of the four nominated last month by activist hedge fund FrontFour Capital. Calling FrontFour’s critique of Sensient’s business track record “simplistic and inaccurate,” Sensient said that FrontFour, which owns a 1.5% stake in Sensient, “is promoting short-term actions at the expense of long-term value.” Sensient shareholders will vote for new board members on April 24 at the firm’s annual meeting.

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