(Reuters) – Activist investor Elliott Investment Management has built a position worth more than $1 billion Johnson Controls (NYSE:) International Plc, Bloomberg News reported on Sunday.
The Bloomberg report also said that Elliott's intentions behind the stake in the building solutions provider could not be immediately known.
Elliott & Johnson Controls did not immediately respond to a Reuters request for comment. The investor's move comes on the heels of Johnson Controls' attempts to divest its heating and ventilation assets as part of an attempt to shed non-core businesses.
Robert Bosch GmbH, Lennox International Reuters (NYSE:) and Samsung Electronics (KS:) were among the industrial companies vying to acquire heating and ventilation assets worth more than $6 billion from Johnson Controls, Reuters previously reported.
Founded in 1885, Johnson Controls manufactures a wide range of appliances and equipment for commercial buildings, as well as home comfort devices. Provides electronic systems for offices, schools and hospitals in areas such as ventilation, security and fire detection.
