DuPont said Tuesday that proposals from activist investor Trian Fund Management L.P. to break up the chemicals giant and add more debt are not in the best interest of shareholders. In a letter to its shareholders, DuPont said Trian has launched a proxy fight which is based on "inaccurate data, and flawed analyses to distract from DuPont's track record of strong performance." The company said its management team remains focused on a restructuring plan launched in 2009 that it believes are laying the foundation for future success. It noted that returns during the 1-year, 3-year and 5-year periods were 17%, 78% and 160% -- outperforming its peers and the S&P 500. "Rest assured that, notwithstanding Trian's proxy fight, DuPont's Board and management team will continue to execute on our strategic plan and deliver the best possible results for shareholders," said the letter. Trian, run by Nelson Peltz, has been pushing to gain four seats on the DuPont board. DuPont shares were slightly lower in early trade, but have gained 7.9% in the past three months, outperforming the S&P 500's 2.6% gain.
Copyright © 2015 MarketWatch, Inc.