Timken (TKR) falls more than 1% for the second day in a row after the company sends letter to...


Timken (TKR) falls more than 1% for the second day in a row after the company sends letter to shareholders encouraging them to vote against a proposal to spinoff the firm's steel business. In the letter, Timken says CalSTRS and Relational Investors' plan to split the company is "misguided" and would only create "illusory short-term gains through financial engineering."

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