Hedge fund Kerrisdale says Webster should consider spinoff

Reuters – Hedge fund Kerrisdale Capital on Monday urged Webster Financial Corp to consider spinning off its health savings business from its main banking operations, a move it said could boost the company’s share price by 36 percent.

“We believe that Webster is now trading at an over $1 billion discount to fair value,” the New York-based fund wrote in a letter sent to Webster Chief Executive Officer James Smith and seen by Reuters.

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