'Cause Breaking Up Is Hard to Do: Third Point Pushes United Technologies to Dissolve Itself
We think a breakup of wide-moat United Technologies' portfolio of businesses is becoming a bit more likely following a letter from Third Point, which has taken a position in the company's shares. In the letter, Third Point apparently outlines its desire to see United Technologies break itself up into three separate companies: Otis; climate, control, and security; and an aerospace business comprising Pratt & Whitney and aerospace systems. United Technologies says it "disagrees with several of...United Technologies provides technology products and services to the building systems and aerospace industries. The company has four segments: Otis, which designs, manufactures, sells and installs passenger and freight elevators; Carrier, which provides heating, ventilating, air conditioning refrigeration, fire, security and building automation products; Pratt & Whitney, which supplies aircraft engines for the commercial, military, business jet and general aviation market; and Collins Aerospace Systems, which provides aerospace products and aftermarket service solutions for aircraft manufacturers, airlines, regional, business and general aviation markets, military, space and undersea operations.
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