Activist investor Irenic Capital Management has built a stake in government contractor KBR (KBR) and plans to push the company to separate its segment that serves the private sector, people familiar with the matter told The Wall Street Journal’s Ben Glickman. Irenic has accumulated a more than 1% stake in the company and plans to push management to spin off or sell its sustainable technology solutions segment, according to the sources.
Invest with Confidence:
- Follow TipRanks' Top Wall Street Analysts to uncover their success rate and average return.
- Join thousands of data-driven investors – Build your Smart Portfolio for personalized insights.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on KBR:
- KBR Announces Leadership Changes and Board Restructuring
- KBR awarded $88M task order contract under DoD IAC MAC vehicle
- KBR Board Member Mark E. Baldwin Retires
- Applied Energetics, Kord sign MOU to advance directed energy solutions
- KBR signs agreement with Amufert for new development of ammonia plant