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CORRECTED-Relational recommends Timken spin off steel business
November 28, 2012 / 8:26 PM / 5 years ago

CORRECTED-Relational recommends Timken spin off steel business

(Corrects spelling to Timken in headline)

Nov 28 (Reuters) - Relational Investors, in a partnership with California State Teachers’ Retirement System (CalSTRS), reported a 6.15 percent stake in Timken Co, and said the diversified manufacturer should spin off its steel business.

In a regulatory filing on Wednesday, Relational Investors said it had met with Timken management and board members to recommend the company hire advisors to evaluate a spin-off. (Reporting By Lynn Adler; Editing by Gary Hill)

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