05:16 AM EDT, 05/20/2024 (MT Newswires) -- Johnson Controls International ( JCI ) has become a focal point of major investment by Elliott Investment Management, which has built a stake of over $1 billion in the company, Bloomberg News reported Sunday, citing unnamed people familiar with the matter.

Elliott is now among the top 10 investors of the company, according to the sources quoted by Bloomberg. However, Elliott's intentions behind the stake in the industrial firm could not immediately be learned, the report said.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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