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General News    H4'ed 6/11/19

United Technologies and Raytheon agree to merge, will be in size second only to Boeing

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Raytheon and United Technologies have agreed to an all stock 'merger of equals' in a deal creating an aerospace and defense powerhouse with sales $70+ billion, 2nd only to Boeing. The deal would close during the first half of 2020, following the announced United Technologies spin-off of its Otis elevator and Carrier building systems units. 

CEO at United Technologies Greg Hayes: 'The UT and Raytheon combined will define the future of aerospace and defense. Our companies have iconic brands that share a history of innovation, customer focus and proven execution. By joining forces, we will have unsurpassed technology and expanded R&D capabilities that will allow us to invest through business cycles. Merging our portfolios will also deliver cost and revenue synergies that will create long-term value for our customers and shareowners.'

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At www.usatoday.com

 

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