Smiths Group shares on break-up chatter
Smiths Group shares gained 4.99% yesterday, 22 January on vague talk of a break-up of the listed UK-based engineering group, The Daily Mail reported. The newspaper’s market report section did not cite a source for the speculation.
A market report in The Daily Telegraph cited speculative traders who said Smiths is seen as likely to attract a break-up bid.
The Daily Telegraph report said the reason for the rise in Smiths Group’s share price yesterday was not clear, but noted a suggestion that rival Covidien’s upbeat quarterly results may have improved sentiment towards Smiths’ shares.
The Daily Mail item noted that Smiths Group has extended an agreement with the telecoms group AT&T.
Smiths Group’s share price closed 54p up at 1136p in London yesterday, giving the company a market capitalisation of GBP 4.48bn (EUR 5.92bn).
Daily Mail, Daily Telegraph