Activist investor Standard Investments halves stake in Johnson Matthey after major overhaul

Activist investor Standard Investments halves stake in Johnson Matthey after major overhaul

Key Points

  • Activist investor Standard Investments has halved its stake in London-listed Johnson Matthey after a six-month campaign to overhaul the company.
  • Based in New York, Standard Investments is the investment arm of Standard Industries, a privately held industrial company that owns the specialty chemicals company W.R. Grace.
  • Standard began agitating late last year by publishing an open letter accusing Johnson Matthey’s board of presiding over “sustained underperformance” that had wiped out shareholder value.

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