Activist fund Starboard Value confirmed on Tuesday that it had taken a new position in Honeywell spin-off Solstice Advanced Materials.
Earlier, Finanical Times, citing sources, had written that the activist fund had taken a position in the company. The news is now confirmed by Starboard CEO Jeffrey Smith, Reuters writes.
Starboard wants to improve operations in refrigerants and nuclear power, where the fund sees growth opportunities as a result of increased demand for electricity from AI data centers. They also demand cost savings of around $100 million
