Unlock free Digest editor
Roula Khalaf, editor of FT, chooses her favorite story in this weekly newsletter.
Smiths Group, an international conglomerate on a list in London, announced the breakup of his jobs after the pressure of activist investors.
Cubeswhich has a market value of £ 6.4 billion, he said on Friday that he would sell or sell two of his four basic divisions and restore a “high proportion” of revenue to shareholders, while adding £ 350 million to the 150m stock redemption program for the 150m. Completion in March.
The shares in the group jumped 11 percent in the morning trading.
He said that this year he announced the sale of Smiths Interconect, which forms specialist connection devices, followed by Demerger or sale of Smiths Detection, which makes scanners used in the airport safety checks.
The announcement comes less than a year after the executive director Paul Keel, who defended the structure of the group, stayed for an American company in half its size.
American Investor Motor Capital wrote the Smiths board This month, urging him to follow other conglomerates and explore the breakup, claiming that Smiths had a “significant value that was currently unrealized because of his conglomerate structure.”
