Timken committee to evaluate steel spinoff
Jun 11, 2013 | 04:38 PM
| Corinna Petry
CHICAGO Timken Co., whose shareholders voted last month in favor of a nonbinding proposal to spin off its steel business from its other business units, has formed a strategy committee to evaluate the possibility and to review the companys corporate governance and capital-allocation strategy.
About 53 percent of the votes cast at the annual meeting May 17representing about 47 percent of the companys outstanding shareswere in favor of a split, the Canton, Ohio-based company had reported (amm.com, May 7).....
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