{"id":41909,"date":"2019-06-28T17:47:26","date_gmt":"2019-06-28T17:47:26","guid":{"rendered":"https:\/\/one.sightlinemg.com\/defensenews\/uncategorized\/2019\/06\/28\/united-technologies-shareholder-launches-rebellion-against-merger-with-raytheon\/"},"modified":"2026-08-07T23:16:23","modified_gmt":"2026-08-07T23:16:23","slug":"united-technologies-shareholder-launches-rebellion-against-merger-with-raytheon","status":"publish","type":"post","link":"https:\/\/one.sightlinemg.com\/defensenews\/industry\/2019\/06\/28\/united-technologies-shareholder-launches-rebellion-against-merger-with-raytheon\/","title":{"rendered":"United Technologies shareholder launches rebellion against merger with Raytheon"},"content":{"rendered":"\n

WASHINGTON \u2014 A significant owner of United Technologies Corporation shares has issued a public broadside against the proposed merger with Raytheon<\/a>, calling the move \u201cill-conceived and unlikely to create value.\u201d<\/p>\n\n\n\n

In a letter posted online<\/a> Friday, Third Point LLC CEO Daniel Loeb said he would vote against the merger and urged other shareholders to push back against the proposed tie-up<\/a>, which is expected to create one of the largest aerospace and defense firms in the world.<\/p>\n\n\n\n

Loeb, through Third Point, owned about 8.4 million shares in the company as of February, according to Reuters<\/a>. He has been a vocal critic<\/a> of UTC\u2019s leadership in the past.<\/p>\n\n\n\n

At the core of his argument against the merger is Loeb\u2019s belief that Raytheon brings \u201cvery little applicable technology to UTC\u2019s aerospace offerings,\u201d a contrast to statements from both companies<\/a> at the announcement of the merger. \u201cThe benefits of Raytheon\u2019s cyber and data analysis capabilities are not quantifiable and could be replicated through commercial collaboration or supply agreements.\u201d<\/p>\n\n\n\t