Activist hedge fund Starboard acquires 8.4% stake in Huntsman Corp

(Reuters) – Starboard Value has acquired an 8.4% stake in chemical products maker Huntsman Corp, the activist hedge fund reported on Monday, saying it bought the shares as they were undervalued.

Earlier this month, Box Inc won a proxy contest against Starboard Value, in a rare defeat for the hedge fund, after the cloud services provider’s shareholders backed all three board directors the hedge fund was challenging.

Huntsman said it engages with its shareholders on an ongoing basis, and that it was looking forward to a constructive dialogue with Starboard Value.

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