Timken blasts shareholder’s analysis
Apr 01, 2013 | 04:55 PM
| Corinna Petry
CHICAGO Timken Co. has filed an updated investor presentation highlighting what it calls "serious flaws" in an analysis behind a proposal that the company spin off its steel business.
In an April 1 filing with the U.S. Securities and Exchange Commission (SEC), Timken picked apart shareholder Relational Investors LLCs analysis, saying that it overvalued Timkens bearings business against its peers and did not select its peer group in a fair and balanced manner, and that "significant synergies would be lost" in a spinoff.....
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