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Engine Capital Calls on Smiths Group plc’s Board of Directors to Publicly Commit to Strategic Alternatives Process

Asserts that Smiths Has Persistently Traded at a ‘Conglomerate Discount’ to its Sum of the Parts and its Segment-Level Peers Despite Strong Financials and Operating Performance

Believes a Sale of the Entire Company or its Four Businesses Could Deliver a Significant Premium to Smiths’ Current Share Price

Cautions the Board and New CEO Roland Carter Against Pursuing Material Acquisitions While Maintaining its Conglomerate Structure

NEW YORK--(BUSINESS WIRE)--Engine Capital LP (together with its affiliates, "Engine" or "we"), a meaningful shareholder of Smiths Group plc (LSE: SMIN) (the “Company”), today sent a letter calling on the Company’s Board of Directors to publicly commit to a strategic alternatives process aimed at a sale to maximize value for shareholders.

The letter can be viewed and downloaded here.

About Engine Capital

Engine Capital LP is a value-oriented special situations fund that invests both actively and passively in companies undergoing change.

Contacts

Engine Capital LP
212-321-0048
info@enginecap.com

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Engine Capital LP

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Contacts

Engine Capital LP
212-321-0048
info@enginecap.com

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