Smith & Nephew opens door to break-up in response to activist, The Times says

Smith & Nephew has opened up to a possible break-up of the company amid activist pressure to consider a separation of its largest segment, its struggling orthopedics division, marking a shift in the company’s public position, reported The Times’ Alex Ralph. In a meeting with City analysts after Smith & Nephew’s full-year results last week, CFO John Rogers said the group remained committed to the turnaround of the largest of the group’s three units, but could consider options if its growth does not “sustainably improve” or does not result in a re-rating in the shares, The Times noted.