News that activist investor Nelson Peltz's Trian Fund Management has acquired a significant stake in Solventum, the healthcare spinoff from 3M, prompted a 3.4% surge in the company's shares in after-hours trading on Monday, according to reports.

According to Bloomberg, while Trian's exact holding in Solventum – a provider of sterilisation devices, wound dressings, medical tapes, and other hospital consumables – has not been disclosed, the fund is now one of the largest shareholders in the medical equipment company.

Trian Fund Management has reportedly approached Solventum’s management to discuss strategies for enhancing shareholder value, with the hedge fund believing the company should focus on accelerating organic growth, improving profit margins, and considering asset sales to unlock its full potential.

Reuters cites Trian as stating in an email that: "Trian is one of the largest shareholders of Solventum, formerly known as 3M Health Care. Trian believes Solventum has a significant value creation opportunity as a standalone public company."

The New York-based hedge fund also expressed its intention to engage constructively with Solventum’s management and board to achieve these goals.