Ancora Reaches Agreement with Ashland Inc. for Strategic Board Refresh

Bloomberg (subscription required), Business Insider, Crain’s Cleveland Business (subscription required), Seeking Alpha, Investing.com, StreetInsider and TipRanks reported on longtime Olshan client Ancora Advisors entering into a cooperation agreement with Ashland Inc., a global leader in additives and specialty ingredients, pursuant to which Peter Thomas and Allen Spizzo were appointed to Ashland’s board as independent directors effective immediately. As part of the agreement, Ashland formed a new Capital Allocation Advisory Committee, which will include the newly appointed directors, with Mr. Thomas serving as Vice Chair.​ Olshan Co-Managing Partner and Chair of the firm’s Shareholder Activism Practice Andrew Freedman and Shareholder Activism associate Andrew Astore represented Ancora in this matter.