(Reuters) Billionaire investor Daniel Loeb’s Third Point on Friday urged United Technologies Corp (UTX.N) to move more forcefully in pursuing a breakup into three businesses, arguing this could unlock $20 billion in value.The New York-based hedge fund, which owns a $1-billion stake in the Connecticut conglomerate, signaled to its clients that it would step up pressure on the board and management to follow through on promises to review the company’s future. Loeb wants the company to split into three businesses: the Climate, Controls & Security division, Otis elevators, and an aerospace company (“Aerospace RemainCo”) encompassing UTAS and Pratt & Whitney. It also would include Rockwell Collins Inc (COL.N), which United Technologies is acquiring.
Hedge Fund Third Point Pushes United Tech to Break Up
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