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Ashland looks to sell water treatment unit after hedge fund push

Reuters – Valvoline motor oil maker Ashland Inc said it was considering selling its water technologies unit, but activist investor Jana Partners said the company needs to do more to boost value for shareholders.

Ashland’s water treatment business, the third largest among the company’s four units, supplies chemicals to industries including pulp, paper and mining, and accounted for about a fifth of Ashland’s total revenue in 2012. The business also makes products such as biocides, coagulants and wood adhesives.

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