large multi-strategy funds like D.E. Shaw engaging in activism to push for changes at underperforming companies. In the case of Air Products and Chemicals, D.E. Shaw is advocating for a focus on core business operations, improved capital allocation, and better corporate governance, including succession planning for the CEO. The firm’s proposal aims to enhance shareholder value and bring the company in line with its peers in the industry. With its track record of successful activism campaigns, D.E. Shaw’s involvement could lead to significant changes at Air Products.