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Business
FrontFour Targets Chemical Maker OM
by Marc S. Reisch
January 19, 2015
| A version of this story appeared in
Volume 93, Issue 3
Activist investor FrontFour Capital wants OM Group, a maker of magnetic materials, metal-based chemicals, and batteries, to cut costs by $50 million and buy back $250 million in stock. If OM fails to agree to these and other changes to improve profitability and shareholder value, FrontFour says it will nominate three board members at the firm’s upcoming annual meeting who would push its agenda. OM says it is on a sound course to increase shareholder value and takes into consideration all shareholders’ perspectives. Specialty chemical makers Ferro and Sensient earlier made changes following criticism from FrontFour.
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