No leg to stand on

Storks are supposed to stand on one leg. But try telling that to the Dutch conglomerate that shares its name with the wading bird. Stork is fighting calls from some hedge funds, Centaurus and Paulson, to sell or spin off two of its three legs and focus on just one. This is a battle it deserves to lose. There is no logic in the group’s spread of businesses. Even the management team doesn’t claim there are synergies between poultry processing, aerospace engineering and oil and gas services. What’...