Ashland is exploring a potential sale after attracting takeover interest from several private equity companies, according to report by Bloomberg News.

The New York Stock Exchange-listed ingredients maker is said to have appointed Citigroup and Lazard as it considers approaches from Advent, Apollo Global Management, Carlyle Group and Standard Industries.

According to the report, Ashland has come under pressure from activist investors who argued the company was undervalued.

Ashland's decision to explore a sale comes after months of pressure from activist investor Ancora Alternatives, which disclosed a stake in the speciality chemicals company in June.

Ancora argued a transaction could boost Ashland's share price by at least 30% and estimated the stock could be worth at least $76 a share in a takeover.

Since the beginning of 2026, Ashland's shares have grown by 30%, increasing the market value to $3.5 billion.

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Source: Personal Care Magazine (https://www.personalcaremagazine.com/)

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