Hedge fund Third Point LLC said on Tuesday that it recently cut its investment i...
FILE PHOTO - Daniel S. Loeb, founder of Third Point LLC, participates in a panel discussion during the Skybridge Alternatives Conference in Las Vegas, Nevada May 9, 2012. REUTERS/Steve Marcus
Last week William Ackman, another prominent activist investor, told clients that his Pershing Square Capital Management had sold all of its 5.8 million United Technologies shares. United Technologies is in the process of streamlining its operations, actions both hedge funds endorsed, by selling off its Otis elevator and Carrier buildings systems units.
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