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Brittain will have job of convincing market a listing is as good as an outright bid
Engineering conglomerate expects revenues to fall further
The activist fund is likely to take issue with the conglomerate structure
US activist revealed as investor days after Rolls-Royce move
FTSE 100 engineering conglomerate under fire over limp revenues in medical and detection divisions
At the start of March, FTSE 350 non-financials held £139.5bn cash
Exit comes as engineering conglomerate grapples with weaker sales in key divisions
Budget speech destroys half of annuities specialist’s value
Hurdles to a value-enhancing break-up may include chief executive
Hidden expenses can lift cost to more than double annual charge
Pension liabilities and customer disputes add to company’s burden
Greg Smith’s underwhelming insights do not worsen the problem
The case for Smiths to get back to basics remains as strong as ever
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