Ackman Opposes United Technologies-Raytheon Deal
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.