Nelson Peltz, an activist investor and principal of hedge fund Trian Fund Management, on Monday told CNBC that the prospects for a last-minute settlement with DuPont were “dim.”
DuPont (DD) has refused to add Peltz to its board and has rejected his demand to split the company’s volatile materials business from more stable units, such as agriculture, nutrition and health, and industrial biosciences.
The chemicals conglomerate and Dow component is currently locked in a lengthy proxy battle with the activist investor.
At a shareholder meeting later this week it will be decided if Peltz will get the four board seats at DuPont he has been campaigning for.
Fortune’s Steve Gandel takes a look at the bruising four-month battle between the chemical giant and hedge fund Trian, saying it offers a new window into whether shareholder activism is good for corporate America, or crippling it.