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The Wall Street Journal: Activist investor Ackman says he opposes United Technologies-Raytheon deal

William Ackman, a big United Technologies Corp. shareholder who earlier pushed the industrial giant to streamline its business, is now urging the company to call off its planned megamerger with Raytheon Co., which he says makes no strategic sense.

The activist investor sent an email to United Technologies UTX, -3.96% Chief Executive Greg Hayes early Sunday morning after The Wall Street Journal reported on the impending deal. He wrote that he was “extremely concerned” about the combination, according to a copy of the email seen by the Journal. The companies confirmed their plan to merge later Sunday.

The all-stock transaction would create an aerospace-and-defense giant, eclipsed in sales only by Boeing Co.

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