Cement News tagged under: Sachem Head Capital Management
Eagle Materials to separate heavy and light material businesses31 May 2019, Published under Cement NewsUSA-based Eagle Materials’ board has approved a plan to separate its heavy materials and light materials businesses into two publicly-traded entities. Earlier this month, Sachem Head Capital Management, which disclosed a nine per cent stake in the company in March, reportedly urged the company to separate its cement and wallboard businesses, according to Reuters. Eagle Materials’ heavy materials business will operate as a cement company, while the light materials business will continue to... |
Sachem Head nominates two for Eagle Materials Board10 May 2019, Published under Cement NewsEagle Materials Inc shareholder Sachem Head Capital Management LP is nominating two people to Eagle Materials’ board, saying the company needs “new voices”. Scott Ferguson, Sachem Head’s managing partner, and Wendy Lane, board member at Willis Tower Watson plc were both nominated. Sachem Head, who reported a 8.9 per cent stake on 28 March 2019, is concerned about the “diversion” of resources as Eagle expanded into oil and gas proppants. While it said it was encouraged by the portfolio re... |
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