Ashland Urged To Reconsider Split

Ashland shareholder Elmrox Investment Group is urging Ashland to abandon its plan to split into two companies—the specialty chemical maker Ashland and the engine oil retailer Valvoline—and instead sell the chemical business. Elmrox contends that Ashland would be an attractive acquisition for a large U.S. or foreign chemical maker. Elmrox is led by investor Daniel Lawrence, who in 2013 won $50,000 in an investing contest for his presentation on Ashland. Ashland says it plans to stay the course. “We are familiar with Mr. Lawrence, as he has contacted Ashland to offer perspectives on the company,” a statement says. “We are confident that our planned separation of Ashland into two great, independent, public companies is our best path forward to enhance shareholder value.”