DuPont Says Trian's Breakup Plan To Cost $4 Bln

(RTTNews) - Chemicals giant EI DuPont De Nemours & Co. (DD) or DuPont Co. said that activist investment firm Trian Fund Management LP's proposal to break up the company would cost $4 billion.

In an investor presentation with the U.S. Securities and Exchange Commission regarding the Company's May 13, 2015 Annual Meeting of Shareholders, DuPont said that Trian is pushing a value-destructive agenda to break up the company and add excessive debt to DuPont, which the Board believes will result in a less competitive company with weaker prospects for value creation. The agenda carries extensive risks as well as estimated upfront monetary impact of $4 billion and estimated ongoing increased costs of $1 billion annually.

The DuPont Board unanimously determined that adding Nelson Peltz or any Trian principal is not in the best interest of shareholders.

DuPont strongly recommended that shareholders elect the Company's leaders by voting the WHITE proxy card today "FOR" ALL 12 of DuPont's and experienced director nominees.

In addition, DuPont ask that shareholders not return the "gold" card, even to withhold on their nominees, as it will revoke any previous WHITE card that shareholders may have submitted in support of DuPont Board nominees.