Elliott builds $1 billion-plus stake in Johnson Controls, Bloomberg reports
The Bloomberg report also said that Elliott's intentions behind the stake in the building solutions provider couldn't immediately be learned.
Elliott and Johnson Controls didn't immediately respond to a Reuters request for comment. The investor's move follows Johnson Controls' attempts to divest its heating and ventilation assets as part of an effort to jettison non-core businesses.) were among industrial firms competing to acquire heating and ventilation assets worth over $6 billion from Johnson Controls, Reuters had earlier reported.
Founded in 1885, Johnson Controls makes a wide range of appliances and equipment for commercial buildings, as well as home comfort appliances. It provides electronic systems for offices, schools and hospitals in areas such as ventilation, security and fire detection.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
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