Bill Ackman, founder and CEO of Pershing Square Capital Management.
Adam Jeffery | CNBC
Activist investor Bill Ackman is urging United Technologies to abandon its $100 billion stock merger with Raytheon, a source familiar with the matter confirmed to CNBC.
Ackman, whose Pershing Square Capital Management owned 5.8 million United Technologies shares at the end of the first quarter, said in a letter that the tie-up between the two companies doesn’t make sense.
The Wall Street Journal first reported Ackman’s opposition.
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