14. Ashland
Fortune 500 rank: 280
2009 revenue: $8.1 billion
2009 total shareholder return: 283.5%
With its acquisition of Hercules, Ashland made substantial progress in transforming itself into a more-focused specialty chemical maker.
The company has also hinted that it will divest its Valvoline and distribution segments, as they are a poor fit. Doing so could unlock value for shareholders.
NEXT: 15. Huntsman
