Starboard Value is expected to fall short in its efforts to revamp the board of Huntsman, with investors rejecting the activist’s nominees, Scott Deveau of Bloomberg reports, citing people familiar with the matter. Huntsman shareholders are expected to re-elect the company’s entire slate of nominees at a meeting slated for Friday, sources told Bloomberg. The tallies are preliminary and the final count might still change before the meeting, they added. Starboard owns an 8.8% stake in Huntsman and nominated four directors to its board. Shares of Huntsman are down 7% to $37.59 in premarket trading.
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