The FTSE 100 industrial conglomerate Smiths Group is to spin-off and float its multibillion-pound medical business. A break-up of Smiths has long been mooted and the company said in November that it intended to spin-off Smiths Medical but did not say how this would be done. This morning Smiths has confirmed the demerger and said it will pursue a separate stock market listing for the business. It has become a sprawling conglomerate with interests ranging from John Crane, its energy business, to Smiths Detection, its security division, to Flex-Tek and Interconnect, which cover transportation and industrials. Smiths Medical employs about…

Source: The Times March 22, 2019 09:11 UTC