United Technologies Corp is nearing a deal to merge its aerospace business with ...
- United Technologies Corp is nearing a deal to merge its aerospace business with U.S. defense contractor Raytheon Co and form a new company worth well over $100 billion, a person familiar with the matter said on Saturday.
United Technologies provides primarily commercial plane makers with equipment such as electronics and communications equipment, whereas Raytheon is a vendor mainly to the U.S. government for equipment in military aircraft and missiles. United Technologies declined to comment, while Raytheon did not immediately respond to a request for comment.
Raytheon, maker of the Tomahawk and the Patriot missile systems, and other U.S. military contractors are expected to benefit from strong global demand for fighter jets and munitions as well as higher U.S. defense spending in fiscal 2020, a lot of it driven by U.S. President Donald Trump’s administration.
United Technologies has said it is on track to separate Carrier and Otis in the first half of 2020, leaving the company focused on its aerospace business through its $23 billion acquisition of Rockwell Collins, which was completed in 2018, and the Pratt & Whitney engines business.Chinese authorities scrutinized United Technologies’ Rockwell Collins acquisition heavily, given its footprint in that country’s market.
FILE PHOTO: The ticker symbol for United Technologies is displayed at the post where it is traded on the floor of the New York Stock Exchange February 23, 2016. REUTERS/Brendan McDermid/File Photo
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Raytheon and United Technologies are reportedly in talks to merge in an all-stock dealAfter Huawei was cut off from sales of American technology, Chinese government officials are warning big technology companies that they will face big consequences for excluding Chinese companies from the sales of American technology.
Read more »
Raytheon and United Technologies in talks to merge: WSJRaytheon Co and United Technologies Corp are in talks to merge in an all-stock d...
Read more »
United Technologies nears deal to merge aerospace unit with Raytheon: sourcesUnited Technologies Corp is nearing a deal to merge its aerospace business with ...
Read more »
Russia, China to show united front at economic forumXi and his host Putin to appear at a plenary session of the annual Saint Petersburg Economic Forum, which Moscow hopes will woo foreign investors despite an uncertain business climate.
Read more »
THC overdose: Has first death from marijuana exposure been recorded in the United States?A coroner in Louisiana believes he may have investigated the first recorded case of a THC overdose.
Read more »