March 20 (Reuters) - Newell Brands Inc:
* CONTINUE TO BELIEVE NEWELL IS “SUBSTANTIALLY UNDERVALUED” & SIGNIFICANT OPPORTUNITIES EXIST TO CREATE “SUBSTANTIAL SHAREHOLDER VALUE”
* STARBOARD - IAN ASHKEN, DOMENICO DE SOLE, MARTIN FRANKLIN, AND JAMES LILLIE ARE COLLECTIVELY WITHDRAWING THEIR NAMES FROM NOMINATION TO NEWELL’S BOARD
* STARBOARD SAYS “WE BELIEVE THAT ASSET SALES, IF EXECUTED PROPERLY, CAN CREATE SUBSTANTIAL VALUE AT NEWELL”
* STARBOARD SAYS ON NEWELL, “CONFIDENT THAT THERE IS AN OPPORTUNITY TO IMPROVE OPERATING INCOME BY APPROXIMATELY $500 TO $800 MILLION”
* IN ADDITION TO EXPLORING STRATEGIC ALTERNATIVES FOR NEWELL, “NEW BOARD BE EQUALLY AND SIMULTANEOUSLY FOCUSED ON OPERATIONAL IMPROVEMENTS AVAILABLE”
* WILL BE RESERVING ITS RIGHTS AS TO NEWELL BOARD ELECTION CONTEST; IF MOVING FORWARD, FIRM WILL REDUCE ITS SLATE TO A MINORITY OF THE BOARD Source text for Eikon: Further company coverage:
