Developing software for farmers, «is meeting concrete needs thanks to advanced technologies»

The Third Point hedge fund, managed by billionaire Daniel Loeb, wants to acquire a stake in United Technologies, according to a document from the Federal Trade Commission (FTC), while the industrial conglomerate is considering a split.

Third Point Offshore Fund has applied to the FTC’s Consumer Protection Bureau for permission to buy Group shares above a certain threshold, according to a document dated March 23 posted on the website. FTC.

 

United Tech declined to comment and Third Point was not immediately available to comment on this information.

 

United Tech, which builds the Otis lifts, Pratt & Whitney aircraft engines and Carrier air conditioners, announced in February that it intends to decide by the end of 2018 whether it is better valued as a conglomerate or in three entities. distinct.

 

If the group were to split, the aerospace division would have sales of about $ 45 billion to $ 50 billion, Otis elevators of about $ 12 billion to $ 13 billion, and air conditioning systems of about $ 17 billion to $ 18 billion. General Manager Greg Hayes.

 

The group’s action lagged the overall market, affected by heavy expenses to develop a new geared engine, Geared Turbofan (GTF), and because of oversupply in the market elevators in China. It has lost about 9.4% in the last 12 months, compared with a gain of 13.9% for the Dow Jones.

 

The title took 3% to $ 126 on the New York Stock Exchange, around 19:50 GMT.

 

Investor William Ackman of Pershing Square Capital Management also raises stake in United Tech, according to news released in February.

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