Hedge fund D.E. Shaw nominates three directors at Air Products, has $1 billion stake

Multi-strategy hedge fund D.E. Shaw revealed on Thursday it had amassed a roughly $1 billion stake in industrial gas giant Air Products and Chemicals, the second activist stake at the $71 billion company. D.E. Shaw, one of the largest hedge funds in the world by assets, said in letters made public Thursday that its efforts to engage privately with the company had been largely rebuffed and marked by "an apparent lack of urgency." The investor plans to nominate three directors to the company's board, people f ...