United Technologies Corp (UTC) plans to acquire Raytheon Company and combine its aerospace business with Raytheon to create an enormous company expected to be worth $120 billion—the largest merger to take place to date within the aerospace sector. The deal was announced on Sunday.
United Technologies To Acquire Raytheon In Massive Aero Merger
Key Takeaways:
- United Technologies Corp (UTC) plans to acquire Raytheon Company, combining their aerospace businesses to form a new $120 billion entity, Raytheon Technologies Corp, marking the largest merger in the aerospace sector's history.
- The merger unites UTC's commercial aerospace focus (avionics, communications) with Raytheon's defense expertise (missile systems, military intelligence) primarily for the U.S. government.
- Expected to close in early 2020 pending antitrust review, the deal anticipates $1 billion in cost advantages and a projected hire of approximately 20,000 people.
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