Manitowoc in talks about split
The manufacturer acknowledged talks with activist investment fund Relational Investors, which took an 8.5% stake in it, about its proposal to break up the company, which makes construction cranes and food-service ice makers and freezers. Jefferies upgraded Manitowoc (MTW) to hold from underperform with a 33 price target, while BMO Capital downgraded it to market perform from outperform, citing increased downside risk. Shares jumped 10.8% to 32.93.
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