Jeff Haxer spoke with Sandy Ward from Morningstar on findings from Bain’s Divestiture Report. “Every time there is another spinoff, the pressure increases from the board and from activists,” said Haxer. He points to the flurry of activity among major healthcare companies to separate their higher-returning biotech and pharmaceutical businesses from their slower-growing but more predictable consumer healthcare lines as indicative of the pressure that company managements are facing.