New York-based hedge fund Cruiser Capital Advisors LLC is abandoning its proxy fight with Ashland Global Holdings Inc. after the specialty-chemicals manufacturer struck a deal last week with investor Neuberger Berman Group LLC. In the agreement with Ashland, Cruiser Capital, which owns a 2.5% stake, will withdraw its slate of nominees to Ashland’s board of directors and instead back the company’s nominees at an annual shareholder meeting in February, Ashland said Tuesday.

Source: Wall Street Journal January 22, 2019 21:05 UTC