(Reuters) (Reuters) – Billionaire investor Daniel Loeb said on Friday that his hedge fund Third Point LLC will vote against the planned merger of United Technologies Corp and Raytheon Co, saying there is no “strategic rationale for this transaction.” “We have concluded that the proposed combination of United Technologies and Raytheon is ill-conceived and unlikely to create value for UTC shareholders,” Loeb wrote in a letter to the board of directors of United Technologies.
Hedge fund chief Daniel Loeb opposes United Technologies, Raytheon merger
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