UPDATE 1-Daniel Loeb's Third Point seeks stake in United Technologies

From Reuters - March 26, 2018

(Reuters) - Billionaire hedge fund manager Daniel Loebs firm Third Point LLC wants to build a stake in United Technologies Corp (UTX.N),

according to a filing with the Federal Trade Commission, as the U.S. aero parts maker explores a breakup of its businesses.

Loebs Third Point Offshore Fund Ltd has requested permission from the U.S. consumer protection regulator to acquire shares in the company above a certain threshold, according to the filing dated March 23 on the FTCs website.

Shares of Farmington, Connecticut-based United Tech rose as much as 3.6 percent to $126.73 on Monday.

United Tech declined to comment and Third Point was not immediately available for comment.

United Tech, which makes Otis Elevators, Pratt & Whitney aircraft engines and Carrier air conditioners, in February said it would decide by the end of 2018 whether its businesses were more valuable together or better off as separate entities.


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