Ackman Opposes United Technologies-Raytheon Deal
June 11 2019 - 4:30PM
Dow Jones News
By Cara Lombardo
William Ackman, a big United Technologies Corp. shareholder who
earlier pushed the industrial giant to streamline its business, is
now urging the company to call off its planned mega-merger with
Raytheon Co., which he says makes no strategic sense.
The activist investor sent an email to United Technologies Chief
Executive Greg Hayes early Sunday morning after The Wall Street
Journal reported on the impending deal. He wrote that he was
"extremely concerned" about the combination, according to a copy of
the email seen by the Journal. The companies confirmed their plan
to merge later Sunday.
Doug Cameron and Thomas Gryta contributed to this article.
(END) Dow Jones Newswires
June 11, 2019 16:15 ET (20:15 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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