Activist Investor Cevian Takes Stake in UK's Smith & Nephew [BNN Bloomberg (Canada)]
Smith & Nephew SNATS, Inc. (SNN)
Last smith & nephew snats, inc. earnings: 8/1 04:05 pm
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smithoptics.com
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Source: BNN Bloomberg
Smith & Nephew has not generated shareholder value for many years, the Swedish fund's partner Friederike Helfer said. “Cevian sees the potential to create significant long-term value by improving the operating performance of the company's businesses,” she said in a statement. Smith & Nephew's shares rose as much as 5.9% in early London trading. They're broadly flat over the past year. It comes after Cevian said changing a stock's listing location will be a big part of its investment and restructuring campaigns in the coming years. The investor, which counts billionaire financier Carl Icahn as a backer, is one of the biggest shareholders in Dublin-based building materials company CRH Plc, which moved its primary listing to New York from London last year. The investor also holds minority stakes in European companies such as ABB Ltd., Ericsson AB, SKF AB and Pearson Plc. Smith & Nephew was hit with a shareholder revolt over pay in May when investors holding 43% of its shares vot
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SNN
Sec Filings
- 10/1/24 - Form 6-K
- 9/27/24 - Form 6-K
- 9/24/24 - Form 6-K
- SNN's page on the SEC website