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Activist investor Cevian Capital has a 5 per cent stake in Smith & Nephew, the London-listed manufacturer of medical devices.
Smith & Nephew shares have fallen by almost a fifth in the past year, with tighter restrictions on procurement practices in China hitting the business.
In a statement, Smith & Nephew said it had “an open dialogue with our shareholders and will continue to engage with Cevian, as we do with all of our shareholders”.
Stockholm-based Cevian has previously taken positions in companies including UBS, Vodafone and Aviva. Its stake in Smith & Nephew was disclosed in a statement on Thursday.