Feb 17 (Reuters) - DuPont said it had met with Nelson Peltz’s Trian Fund Management “more than 20 times” to work toward a “constructive resolution” of a brewing proxy war between the hedge fund and the company, but had been rebuffed.
Trian, which owns a 2.68 percent stake in DuPont, has urged shareholders to vote for Peltz and three other nominees to the company’s board.
DuPont has repeatedly snubbed Trian’s demand and instead named two of its own nominees as directors earlier this month.
The hedge fund, which had been urging DuPont for months to break up, said last week it was “open-minded” about keeping the company together, but criticized it for failing to meet earnings and revenue targets. (Reporting By Kanika Sikka in Bengaluru; Editing by Saumyadeb Chakrabarty)