Activist Plantro Asks Calian to Sell Amid Defense Tailwinds (2)

Activist investor Plantro Ltd. is urging Calian Group Ltd. to consider a sale of all or part of its business, arguing that the Canadian tech and services company is ripe for a shake-up to help boost its undervalued shares.

In a letter seen by Bloomberg News, Jersey-based Plantro said it has spoken with what it believes to be a majority of Calian’s shareholders who want “meaningful, near-term changes to unlock value.” Plantro owns more than 5% of Calian’s shares, the letter said.

Calian’s portfolio of operations spans health care, advanced manufacturing and satellite technologies, information technology and cybersecurity consulting, and ...