4th Aug 2015 05:37
LONDON (Alliance News) - US activist hedge fund ValueAct has emerged as a shareholder in FTSE 100-listed engineering company Smiths Group PLC, just days after it was revealed the fund had become the largest shareholder in Rolls-Royce Holdings PLC, the Financial Times reports.
ValueAct's holding in Smiths, which makes products including airport scanners and medical devices, is below the 5% threshold required for disclosure to the London Stock Exchange, the FT said.
Unlike the investment it has made in Rolls-Royce, people familiar with the funds plans said it has not yet determined whether Smiths will become one of its core positions. Being a core position would imply ValueAct having a multi-year holding and undertaking a campaign to shake-up the business.
https://next.ft.com/ea27ba2a-3a01-11e5-8613-07d16aad2152
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
Smiths GroupRolls-Royce