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Stock Market & Financial Investment News

News Breaks
November 5, 2012
10:18 EDTIPHSInnophos Holdings increases quarterly dividend by 30% to 35c from 27c
The dividend will be payable on November 30 to stockholders of record as of the close of business on November 16.
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October 7, 2014
16:31 EDTIPHSInnophos Holdings confirms receipt of letter from FrontFour Capital Group
Innophos Holdings announced that it had received a letter from FrontFour Capital Group LLC. Innophos is committed to executing a business strategy aligned with the best interests of the company and all of its shareholders. The company regularly engages in open and transparent dialogue with investors and will always consider constructive input from shareholders that helps drive long-term shareholder value.
08:20 EDTIPHSFrontFour Capital recommends Innophos Holdings explore strategic alternatives
FrontFour Capital Group, a shareholder of Innophos Holdings, announced that it has delivered a letter to Innophos Holdings recommending that the board take immediate action to implement a detailed action plan to improve shareholder value. In the letter, FrontFour Capital said, "We came away from the meeting highly concerned with the lack of clarity around your strategic path. Additionally, you offered no prescription for closing the significant valuation gap between Innophos' current share price versus comparable publicly traded specialty chemical companies with sizeable exposure to the food, beverage and pharmaceutical end markets. While you conceded that current industry M&A valuations are expensive, you expressed no willingness to potentially explore taking advantage of this dynamic by selling the company at a significant premium. To the contrary, we left our meeting concerned that you may pursue an expensive, value destructive acquisition or similar transaction that would clearly not be in the best interests of all shareholders... In order to set Innophos on the right path to create value for all shareholders, we outline below the following actions, which we recommend being taken immediately and which should not be considered mutually exclusive: I. Pursue All Available Options to Reduce GTSP Exposure... II. Improve Financial Disclosures Regarding Capital Spending... III. Implement a More Attractive Dividend Policy... IV. Accelerate Share Repurchase Activity... V. Explore Strategic Alternatives for the Entire Company... we strongly believe Innophos should consider hiring an investment bank to explore the sale of the Company at a meaningful premium to current share prices. We believe there would be several interested strategic parties as Innophos' end market exposure remains of high interest to potential acquirers due to stricter food regulations, the rising, global middle-class and strong financing markets."

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