Deals
Activist Hedge Fund Elliott Builds $1 Billion-Plus Stake in Johnson Controls
- Johnson Controls has underperformed peers in past year
- Industrial company has seen string of executive departures
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Activist investor Elliott Investment Management has built a large position in industrial giant Johnson Controls International Plc, whose performance has lagged its peers, according to people familiar with the matter.
The hedge fund’s position is worth more than $1 billion, putting it among the top 10 investors of the company, the people said, asking not to be identified discussing private information.