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  "documentTitle": "Smiths Group plc (SMIN)",
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  "authorName": "Arnaud Ajdler",
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      "kind": "paragraph",
      "text": "Board and the group's top executives while leaving the four businesses' management teams largely unaffected except for some management presentations. Therefore, such a process should not negatively impact the divisions' operating momentum.",
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      "text": "Sincerely,",
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      "text": "In conclusion, we believe the status quo is no longer tenable. Smiths' corporate structure is antiquated, and its U.K. listing further compounds its valuation disconnect. The value creation opportunity is significant and within the Board's reach. This is why it is imperative that the Board swiftly announces a strategic review to address the Company's undervaluation. On behalf of Engine, we look forward to working with you to increase long-term value for all shareholders.",
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