Investors Respond to News of Activist Building Stake in Johnson Controls
Activist Interest in Johnson Controls
An activist is reportedly building a stake in the industrial giant. A prominent activist has reportedly taken a position in Johnson Controls International (NYSE: JCI), which could be the first step toward pushing for change at a company that has underperformed of late.
Stock Performance
Investors are intrigued, sending shares of Johnson Controls up as much as 5.8% on Monday morning and up 3% as of 11 a.m. ET.
Elliott Investment Management's Influence
Late Sunday, Bloomberg reported that activist Elliott Investment Management has built a position worth more than $1 billion in Johnson Controls, raising expectations of a strategy to boost the share price.
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