Peltz pushes for board control at DuPont as fight for control of industry titan intensifies

Industrials Associated Press

A fight for control of DuPont Co., a titan of U.S. industry, is intensifying after the hedge fund led by activist investor Nelson Peltz announced plans to nominate its own slate of four directors to the company board.

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Trian Fund Management, which holds about a 2.7 percent stake in DuPont, has been hammering away at the 200-year-old, $67.5 billion chemical company for almost two years now, pushing to split it in two.

The Delaware company said late Thursday that it will review Trian's proposed nominees and make recommendations that are in the best interests of shareholders.

Trian's board nominees, which include Peltz, will face a vote at the annual shareholder meeting for E.I. duPont de Nemours and Co. in the spring.