Deals
United Technologies, Raytheon to Create Aerospace Giant
- New Raytheon Technologies would have $74 billion in sales
- Current United Technologies holders to own 57% of new firm
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United Technologies Corp. agreed to buy Raytheon Co. in an all-stock deal, forming an aerospace and defense giant with $74 billion in sales in one of the industry’s biggest transactions ever.
The new entity will be called Raytheon Technologies Corp. when the deal closes in the first half of 2020, after United Technologies completes the separation of its Otis elevator and Carrier air-conditioner businesses, the companies said in a statement Sunday. While billed as a merger of equals, current United Technologies shareholders will own most of the combined company, which is expected to be worth well over $100 billion, according to Bloomberg Intelligence.