WASHINGTON (dpa-AFX) - Activist investor Mantle Ridge held a stake of over $1 billion in Air Products and Chemicals Inc. (APD) and plans to advocate for improvements at the industrial gas manufacturer, according to a report from the Wall Street Journal citing sources familiar with the matter.
Led by Paul Hilal, Mantle Ridge reportedly aims to meet with the company's board to discuss strategic initiatives and capital allocation. The activist investor is also focused on succession planning for Seifi Ghasemi, Air Products' 80-year-old chief executive officer.
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