Exclusive-Activist Palliser takes stake in Japan’s SMC, proposes $3.8 billion buyback, letter shows

TOKYO, April 27: London-based activist fund Palliser Capital has made a “significant” investment in Japanese factory automation firm SMC Corp and has proposed it make a $3. 8 billion share buyback, according to a letter sent to the company. Palliser believes SMC, which makes machinery used in chipmaking, has s

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