(Motley Fool) Activist investor Dan Loeb was a key figure in pushing industrial conglomerate United Technologies (NYSE:UTX) to split into three independent entities. Now, he wants the company to go a step further and seek a buyer for one large unit. Loeb’s hedge fund, Third Point Management, established a stake in UTC in late 2017 and last May went public with its argument that the company’s parts would be worth more on their own than as part of the combination. United Technologies management in December signed off on that conclusion, announcing plans to create three entities around its aerospace unit, Otis elevators, and its Carrier HVAC unit.
This Billionaire Hedge Fund Manager Says the United Technologies Split Doesn’t Go Far Enough
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