Fluor climbs after activist investor Starboard takes 5% stake

Nuscale Power

21/10/2025 15:07

Updates

** Shares of construction firm Fluor FLR.N up 1% at $48.15 in early trading

** Activist investor Starboard Value has taken a nearly 5% stake in the firm, two sources familiar with the matter told Reuters on Monday; WSJ first reported the news

** Starboard and Fluor did not immediately respond when contacted by Reuters

** Fluor holds a 40% stake in nuclear reactor developer NuScale Power SMR.N, which is up 146.5% this year, amid growing demand for data centers and AI boom

** Starboard sees Fluor's core business as undervalued; urges NuScale stake review, according to the sources

        ** Shares of SMR down 7.6%

** As of last close, FLR down 1% YTD

 (Reporting by Kanchana Chakravarty and Joel Jose in Bengaluru)

 ((Kanchana.Chakravarty@thomsonreuters.com;))