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Comment: Ackman may have trouble finding allies to block United Technologies-Raytheon deal

By Jason Booth ( June 12, 2019, 22:53 GMT | Comment) -- ​In a letter opposing United Technologies’ merger with Raytheon, Pershing Square’s Bill Ackman predicts a “substantial majority” of shareholders will also oppose the deal. While Ackman can likely count on backing from fellow activists such as Third Point, he may find other major investors less supportive, as most own shares in both companies. His prior praise of United Technologies’ management may also work against him.In a letter opposing United Technologies’ merger with Raytheon, Pershing Square’s Bill Ackman predicts a “substantial majority” of shareholders will also oppose the deal....

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