Nelson Peltz’s Trian Fund Management plans to push Solventum (SOLV) to separate more of its businesses after the company sold its filtration unit, Ben Glickman of Wall Street Journal reports, citing people familiar with the matter. Trian, which held a roughly 5% stake in Solventum since the middle of last year, believes the company should separate its dental products and software businesses and focus more on its medical and surgical unit, sources told the Journal. The activist wants Solventum to cut costs in its businesses before a potential sale or spinoff, the people added. Trian plans to release a statement Wednesday saying filtration deal is a step in the right direction, they said.
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