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Campaigns / Trian Partners → E. I. du Pont de Nemours and Company
Trian Partners vs. E. I. du Pont de Nemours and Company

E. I. du Pont de Nemours and Company · DD

3 decks published between 2015-04-16 and 2015-04-22 — 180 pages, 180 analysed slides total.

proxy fight

Timeline

Each deck in chronological order — click to open. This is the story of the campaign as it unfolded.

  1. 2015-04-16 proxy fight

    c81060_ex1

    5pp · short_deck

    DuPont's consolidated structure masks ~86% upside; separating GrowthCo, Performance Chemicals, and CyclicalCo/CashCo plus peer-level margins delivers an implied $122 target value by end-2017.

    N 3 V 3 C 3
    ◫
  2. 2015-04-21 proxy fight

    c81085_ex1

    87pp · full_deck

    DuPont is bottom-quartile under Ellen Kullman; electing Trian's four nominees unlocks $120/share by 2017 by cutting $2-4bn of excess corporate costs and ending 'crony' compensation.

    N 5 V 4 C 4
    ⌂ ◫ ” ⇌ ⚑
  3. 2015-04-22 proxy fight

    c81201_ex2

    88pp · full_deck

    DuPont is a chronically underperforming conglomerate; electing Trian's four nominees forces structural review, cost cuts, and governance reform to unlock $120+/share by 2017 — a 21% IRR.