Dec 4 (Reuters) – Medical device maker Cooper Companies said it is initiating a formal strategic review aimed at identifying opportunities to enhance long-term shareholder value, sending shares up 11.7% in extended trading.
In October, Reuters reported that activist investor Jana Partners built a stake in Cooper Companies and was planning to push for strategic alternatives and improve capital allocation to boost returns for the medical device maker.
Cooper said it is actively focused on improving performance in core markets, expanding market share, enhancing operational efficiency and generating strong returns through disciplined capital deployment initiatives as part of the review.
(Reporting by Christy Santhosh in Bengaluru; Editing by Alan Barona)
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