Bill Ackman Building a Stake in United Technologies (UTX) - CNBC

(Updated - February 28, 2018 12:33 PM EST)

Bill Ackman's Pershing Square has been building a stake in United Technologies (NYSE: UTX), CNBC reported Wednesday afternoon.

Ackman told CNBC he thought UTX was a "great" company but didn't elaborate on his thesis.

Recently, UTX CEO Greg Hayes said the company would explore a separation of the business into three separate companies. At a Barclays investor conference, Hayes said by the end of 2018 a decision would be made on whether UTC would be a more "valuable property together" or "better off in three separate businesses".

UTX also has a pending deal to acquire Rockwell Collins, Inc. (NYSE: COL) for $140.00 per share, in cash and UTC stock. It is expected to be completed by the end of the third quarter 2018.

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