Smiths Group breakup saga may end with a whimper

The saga may finally end under new Chief Executive Paul Keel , who according to the Mail on Sunday is in advanced talks with U.S. private equity group TA Associates about a 2 billion pound bidfor the medical division. That’s below the 2.1 billion pounds JPMorgan analysts think it’s worth.

Investors’ bigger gripe will be the slow progress: Smiths’s shares have trailed the Refinitiv Global Industrials Index by 20 percentage points since it announced the separation plans in 2018. The company’s glacial breakup is heading for a lacklustre conclusion. Atos profit warning may tempt bottom-feeders

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