Trian Calls for Cost Cuts and Divestitures at Solventum
Trian Fund Management urged Solventum to cut costs and divest its health information systems unit. The firm says the 3M spin-off needs better capital strategy.
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Trian Fund Management, which owns nearly 5% of SOLVENTUM CORP, demanded the medical device maker cut overhead costs and divest non-core units. The activist firm has pressured Solventum for 18 months following its spin-off from 3M CO. Investors are weighing Trian's push for a health information systems divestiture against Solventum's existing $500 million cost-cutting plan.
