Smiths Group to Spin Off or Sell Detection Business; Return up to 850 Million Pounds
Smiths Group SMIN 11.64%increase; green up pointing triangle is planning to spin off or sell its detection business and return up to 850 million pounds ($1.06 billion) to shareholders.
The FTSE-100 listed engineering group said Friday that it will also sell Smiths Interconnect by the end of this year as part of a plan to focus on the John Crane and Flex-Tek businesses.
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