Activist hedge fund Starboard Value has built a stake in Solstice Advanced Materials Inc., the Financial Times reports, following the cancellation of a planned $14.5 billion merger involving Solstice’s parent, Honeywell International. The deal’s collapse leaves Solstice operating independently, and Starboard is now pressing for changes to the company’s strategy.
Across outlets, Starboard’s demands center on refocusing on Solstice’s core operations and improving profitability. The Financial Times says the fund is pushing for about $100 million in cost cuts and highlights potential in the company’s nuclear-related business, citing growth opportunities tied to rising power demand connected to data centers and artificial intelligence.
The reporting also frames Starboard’s move as part of a broader activist approach after M&A plans fail. Bloomberg and the Seeking Alpha item both reference the Financial Times account, underscoring that the activist campaign follows the scrapped megadeal rather than a new transaction.
