Actelion, Europe's largest biotech company, has the backing of Rudolf Maag, one its largest shareholders, a spokeswoman for Maag said on Monday.
The company is coming under pressure from hedge fund activist Elliott Advisors ahead of the group's annual general meeting in May.
Elliott, Actelion's biggest shareholder with a near 6% stake, is dissatisfied with the group's performance and is pushing Actelion to consider selling itself.
Building on the April 2025 announcement, Dow will take actions across its three operating segments to support European profitability, resulting in the closure of sites in Germany and the UK.
Compelling solutions through strategic partnerships
The German Chemical Industry Association (VCI) welcomes the fact that Ursula von der Leyen, President of the European Commission, and US President Donald Trump have averted the danger of a trade war for the time being.
Carbon black manufacturer Orion Engineered Carbons plans to rationalize production lines in North and South America and EMEA.
BASF sells a majority stake in its coatings business to the investor Carlyle.
