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Timken Co. (TKR) should spin off its steel business to maximize shareholder value, activist fund...
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Wednesday, November 28, 2012, 5:51 PM ETTimken Co. (TKR) should spin off its steel business to maximize shareholder value, activist fund Relational Investors and the Calpers pension fund state in an SEC filing that discloses a combined 6.15% stake in the maker of mechanical components and specialty steels. TKR says a split of the businesses would not be in the best interests of shareholders. Shares -0.9% AH after surging 11.6% in regular trading.
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