New York
FOR decades, corporate America rejected activist investors, accusing them of being corporate raiders out to make a quick buck. But these days, some of America's biggest companies are trying to think more like them.
When United Technologies weighed the possibility of selling or spinning off its Sikorsky Aircraft helicopter business this year, its chief executive went on television to explain why. "As I told both our board and our shareholders, I want to be the activist within," Gregory Hayes, the chief executive, told CNBC, adding that he would prefer this to "worrying about somebody coming from outside". Several months later, United Technologies sold Sikorsky to Lockheed Martin for US$9...
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