Smiths Group plc (LSE:SMIN) has agreed to sell its Smiths Interconnect division to Molex Electronic Technologies Holdings, LLC for £1.3 billion. The move aligns with Smiths Group’s strategic objective to streamline its portfolio and maximize shareholder value. Proceeds from the sale are expected to be returned to shareholders, with further details to be outlined in the company’s upcoming trading statement.
Smiths Group’s robust financial position and active capital management, including share buybacks, support a positive investment profile. However, its relatively high P/E ratio indicates a premium valuation, which may moderate near-term upside potential.
More about Smiths Group plc
Smiths Group is a global industrial engineering company with a history of more than 170 years. The business focuses on tackling complex challenges across the energy, industrial, and construction sectors, contributing to key global priorities such as decarbonisation and energy efficiency. Listed on the London Stock Exchange, Smiths Group operates in over 50 countries and employs around 16,000 people worldwide.
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