Activist hedge fund Elliott acquires $1bn stake in Johnson Controls, raising leadership change speculation.
Activist hedge fund Elliott Investment Management acquires over $1bn stake in underperforming Johnson Controls, ranking it among top 10 investors. Elliott's history of C-suite turnover after investments raises speculation for potential changes in Johnson Controls' leadership. The company is considering selling heating and ventilation assets, as well as reevaluating the sale of its ADT alarms unit.
May 20, 2024
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