Air Products and Chemicals Stock News

Air Products and Chemicals (APD) shares soared on Monday following reports that activist investor Mantle Ridge has acquired a stake worth more than $1 billion in the industrial gas provider and plans to push for improvements at the company.

Air Products & Chemicals (APD, Financial) shares surged by 7.93% recently following the news of a significant activist investment. Mantle Ridge, an investment firm, has acquired over $1 billion in shares and plans to advocate for strategic changes at the company.

An activist investor has taken a stake in the industrial gases company.

Mantle Ridge hedge fund has recently stepped into the industrial gas space by purchasing $1 billion of Air Products (APD, Financial) shares. Mantle Ridge is known as an activist investor that actively involves not just sitting back and watching.

Shares of the industrial gas seller are rising after a media report says an activist investor has built a stake of more than a $1 billion in the company.

Air Products received several upgrades on the news activist investor Mantle Ridge has built a stake in the company.

Activist investor Mantle Ridge has a $1 billion-plus stake in industrial gas supplier Air Products and Chemicals, according to a person familiar with the matter. Mantle Ridge, run by Paul Hilal, is seeking to meet with the company's board to discuss strategic plans and capital allocation, said the person.

Mantle Ridge, run by Paul Hilal, plans to push executives at the industrial gas manufacturer on succession planning for Chief Executive Seifi Ghasemi and for improvements to the company's strategy and capital allocation, according to people familiar with the matter.