Smiths Group announces break-up after activist pressure

The FT Editor selects top stories in the Unlock the Editor’s Digest, featuring Smiths Group’s decision to break up following pressure from activist investors, leading to a more than 10% increase in shares. The conglomerate plans to sell or demerge two core divisions, Smiths Interconnect and Smiths Detection, focusing instead on John Crane and Flex-Tek. The move comes after Engine Capital called for changes, with Smiths expanding its share buyback program to £500mn.

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