United States

Ackman, Loeb oppose United Technologies’ merger with Raytheon

United Technologies Corp.’s $120 billion aerospace merger with Raytheon is facing stiff resistance from hedge fund moguls. Activist investor Bill Ackman argued that the deal makes “no sense” in an email to UTC chief executive Greg Hayes, griping that UTC shareholders would be diluted in an all-stock acquisition of an “inferior” company. see also United Technologies, Raytheon merging into $120 billion firm United Technologies agreed on Sunday to combine its aerospace business... “We cannot comprehend the strategic logic behind such a transaction,” Ackman ...