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Shares of United Technologies Corp. (UTX) rose at the end of trading on Monday as the industrial conglomerate planned to split into three companies.
The stock advanced $ 2.83, or 2.2%, to $ 130.20 at the end of the session.
Under this plan, United Technologies would create an aerospace company that includes Collins Aerospace Systems and Pratt & Whitney, a company hosting its Otis Elevators unit, and a company dedicated to its building systems, including heating and cooling equipment.
United Technologies has announced that it has finalized the acquisition of Rockwell Collins, another $ 30 billion aerospace company. United Technologies had been under pressure to part earlier this year from insurgent investor Bill Ackman.
"Our decision to separate United Technologies is a pivotal moment in our history and will enable each independent company to generate sustained growth, lead its industry in terms of innovation and customer focus, and maximize creation. of value, "said Gregory, chairman and chief executive officer of United Technologies Hayes.
The separation should be completed by 2020.
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