Activist Hedge Fund Starboard Value Targets Solstice After Merger Scrapped

• Activist hedge fund Starboard Value has built a stake in Solstice Advanced Materials Inc.
• Solstice, a Honeywell International Inc. spinoff, scrapped a planned $14.5 billion merger with a rival.
• Starboard Value is pushing for $100 million in cost cuts and sees growth potential in the nuclear business.
• The fund's interest in Solstice follows the company's decision to abandon a significant merger.
• The Financial Times reported on Starboard Value's stake and its intentions for Solstice.